Enough With the Top 1 Percent: The Top 20 Percent, the Upper Middle Class, Is Hoarding the American Dream

Posted: September 3, 2017 in Uncategorized

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it isn’t the super rich, but the upper middle class—representing the top 20 percent, or households making at least $117,000 a year—that disproportionately have been doing better than the rest of Americans, the bottom 80 percent. Their tax breaks are one reason why.

News For The Blind

Already President Trump and the Democrats are trading clichés in the opening skirmishes over Trump’s tax reform proposals. Yet both are missing the bigger reality of who are the economy’s winners and losers—a pattern that’s only grown over recent decades.

Trump, of course, want to cut corporate taxes, and consolidate and lower rates for income tax brackets, among other things. All one really needs to know there is that he is dubiously assuming the savings for businesses wil “trickle down” to employees in jobs and wages. Leading Democrats, in response, are being misleading in a different way.

“If the president wants to use populism to sell his tax plan, he ought to consider actually putting his money where his mouth is and putting forward a plan that puts the middle class, not the top 1 percent, first,” Senate Minority Leader Chuck Schumer said.

Trump’s plan mostly would…

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Comments
  1. Regardless of who is benefitting from tax breaks, be it the one percent or those depicted in this article, the low wage workers have no one in their corner and never will and so as always, “Let them eat cake!”

    Why those useless democraps don’t shut the hell up, I don’t know because we know they got nothing.

  2. I listened to a very interest talk on Internet radio by Thomas Frank a few nights ago. He makes it very clear that the Democrats no long represent the working class, poor or minorities. They made a very conscious decision when they elected Clinton to represent the “professional” class – which I believe is the 20% mentioned in this article.

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