Boss
Take a Memo:
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- #261
This is an optical illusion. It's showing the result of the Reagan tax cuts. Note that everyone in the top 20% are still paying higher tax rates than the other 80%.
There is also another problem. The individuals who comprise the various color lines are constantly changing. I would imagine, Oprah Winfrey was in the 20-99th group in 1960.... maybe even in 1970... She isn't now.
We often hear about how we have to "help the middle class" and it's easy for us to relate because most of us are in this particular demographic and we certainly think we could use some help, so it's logical for us to jump on the bandwagon of helping the middle class. But this presupposes that helping the middle class is the best thing for our prosperity. When you think of 'the middle class' a dynamic instead of a group, why do we want to make them more comfortable and less motivated? It is almost cringe-worthy to say, but we actually need for the "middle class" to struggle a little. This is what motivates individuals among the middle class to strive for success. To become upper-income class.