Consider that since 1980 the average annual income of the bottom 90 percent of Americans has increased a minuscule 1 percent, while during that same time period the income of the top one percent has doubled!
The United States of America, long know as the land of opportunity, has become a place where a poor person is less likely to become rich than in most other industrialized countries
|Photo from Occupy Minnesota protest|
Lastly, Mr. Morris, who works with the Institute for Local Self-Reliance, points out that taxing the rich could indeed significantly help to reduce our national deficit. If only the richest 400 families paid the statutory rate of 39 percent of their income (to be reenacted next year) an additional $500 billion would be raised over 10 years.