Thursday, December 3, 2015
The Wealth Gap Injustice
The wealth gap is far greater than I had thought, with the members of the Fortune 400 holding 2.3 TRILLION in assets. The average American net worth is around $81,000.
Ever watch the movie Arbitrage with Richard Gere? I can't think of a better way to show how the rich are different from the average bear. I won't spoil it for you, but let's just say it shows rich privilege in all its ugly glory.
So what's to be done? The rich own Congress, and that's the reason they don't get taxed anywhere near what they should. If they had to pay a fair amount, the country would be in much better shape. The difference is in the tax rate. For example until 1982 and Ronald Regan, 70% was the rate on income over $215,000 for a married couple. Today, a married couple can make $450,000 and only pay 39.6%. Fair? I think not.
Posted by FFFBlog at 7:57 AM