“In 1985, the top five percent of the households – the wealthiest five percent – had net worth of $8 trillion – which is a lot. Today, after serial bubble after serial bubble, the top five per cent have net worth of $40 trillion. The top five percent have gained more wealth than the whole human race had created prior to 1980.” Elsewhere in this same CBS “60 Minutes” interview, Mr. Stockman describes America's obsession with tax cuts as "religion, something embedded in the catechism," "rank demagoguery, we should call it what it is," and "We've demonized taxes. We've created... the idea that they're a metaphysical evil." And finally, this encompassing observation: "The Republican Party, as much as it pains me to say this, should be ashamed of themselves."
Reagan Budget Director, David Stockman, who oversaw the biggest tax cut in the history of humankind
http://www.cbsnews.com/
http://www.cbsnews.com/
This "absence of challenge" is remarkable insofar as the blogosphere challenges everything.
America's "wealthy" are, in fact, greedy capitalist pigs, responsible for jeorpardizing "the whole shebang."
***
"Politics and Economics: The 101 Courses You Wish You Had"
No comments:
Post a Comment