Sunday, November 16, 2014

(Related update): About that Massive US Income Inequality Problem...

Related update:  Mark Perry continues his superb coverage and analysis of the manufactured income inequality issue in the US with another highly informative post at his blog.  The context is the recent release of a report from the Congressional Budget Office that shows how the top income quintile in the US pretty much pays for everything. Part of the liberal narrative on this topic is built on their assertion that one of the reasons for the supposed widening in the income gap is that the top earners in our society game the system and, thus, don't pay their "fair share", whatever that means. Well, from Perry's post, here's a telling tax rate graph showing how the bottom 60% of earners are net tax consumers, while the top 20% do the financing:

Given that graph, it's a little hard to argue that the high income earners aren't paying their fair share. In any event, there is much more analysis and data presentation at the link above.  If you're interested in this topic and want to learn more, Perry's post is a must-read.

Original post 10/30/14):  Perry has a great post over at Carpe Diem discussing the income inequality issue, one of the many issues Dems have used over the last year or so to rally their base for the midterms.  Like almost all of their issues, it's actually a non-issue, as Perry points out and as this graph shows:

Clearly the top income earners are exploiting the bottom income earners, except...not.  Be sure to read all of Perry's post for accompanying analysis and discussion.