THE NATION’S TOP “1”-PERCENT – THEIR “NET” WORTH + RELATIVE “GAINS” SINCE THE 1920’S

The chart below shows the “GAINS” accrued by the TOP ONE-PERCENT going all the way back to the 1920’s.
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Note the “similarity” between the 1923-1929 graph and the 2002-2007 graph.
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The share of total “net” worth held by the wealthiest 1% of American households continued to rise, hitting 34.5% in 2010
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The share of total “net” worth claimed by the top 10% was 74.5%.
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And those poor “abused” uber-rich Republicans “whine” about having to pay their fair share of income taxes.  Their rates were 39% in 2001 and shortly afterwards went down to 35%
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Let me remind the reader that in Dwight Eisenhower’s Administration the top rate for upper-income folks was 90%.  There was a very good reason for that, it discouraged “reckless” speculation by those who would “game” the system to exponentially increase their own personal income to the detriment of the greater society.  It worked.
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PETE/MARIN
(Riders-On-The-Storm)
https://paulrevererides.wordpress.com
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