Yes, declared income. The bottom 50 percent pay 3%. Of THEIR declared income.
So either you believe poor people have bank accounts in the Caymans or you've never heard of offshore accounts. Not surprising.
Nope, I know they don't. My offshore account is in the Isle of Man. How about yours? I am curious though. If you could have your ultimate wish as regards the economy, what would it be?
I saw this just as I was logging out last night, but I've been thinking about it ever since. I'm not an economist, so I don't know the names of the various disciplines or who espouses what, so I can't approach it from that angle, just from practicality. As simply as possible, I'd want an economy that works for people, not the other way around.
Which economists espoused maintaining infrastructure? The U.S. ranks second in natural resources globally. Why are our roads and dams and bridges crumbling? People pay state and sales taxes. States get federal funding. Where does that money go? Into state legislators' pockets? Into their special pork barrel projects? You tell me.
It's my understanding that there are something like eight million vacant houses nationwide, and about 3.5 million homeless. That looks like a simple equation, until the emotionalism sets in. "Oh, you want to give homeless people free stuff? **** that!" Conversation ends.
I understand it costs about $22,000 a year to keep someone in one of our increasingly privately-run prisons, regardless of whether he's in there for murdering his wife or for a nonviolent crime. That makes more sense to some people than tuition-free state universities.
I was reading something this morning about a city program in Albuquerque that hires homeless people to clean up their own neighborhood. They work for 5.5 hours at $9 an hour, and when they're done they're driven to a health center for a meal and, if they want it, a medical checkup (yeah, more "free stuff" and "he'll only use that money to buy booze and drugs"). I don't know about you, but I like to see clean streets and fewer people sleeping on the sidewalks.
Give me a practical economy. For some reason we can't seem to do that in this country. There are amazing things happening in so-called "Third World" countries where I can show you that a lot can be accomplished with a little, but in this country we get stuck. Figure that out and we can accomplish other things.