While we seldom use this blog as a political pulpit, we feel as though we have an obligation to ensure that you are exposed to the facts. So much of politics is the spin. Facts, comparatively, are hard to come by. While the Republicans would have you belive that lowering taxes for the rich would benefit everyone, it would really only benefit the rich.
I say that because the wealth gap between the rich and poor has grown massively over the last 90 years. In terms of real dollars, the gap between the average one-percenter and the 99% was never bigger than at the peak of the housing bubble. In 2008 (the last year with complete data), the average pre-tax income of the top 1% was almost $1.1M greater than the bottom 99-percent’s. For these and more facts about the disparity between America’s rich and poor, we have a handy infographic for your perusal. Continue reading