Tuesday, March 4, 2014

This Calculator Shows Exactly How Much Have the One Percent Stolen From You Personally

Tell me again why the obscenely wealthy should not be paying a 90 percent marginal tax rate. Or 99 percent. 

Mother Jones:

The richest 1 percent of Americans have seen their average income jump more than 270 percent over the past five decades. Meanwhile, the average income of the least wealthy 90 percent of Americans grew an anemic 22 percent during that time. (Those figures are based on inflation-adjusted real dollars.)

So how much would you be earning today if the phenomenal income growth at the very top of the income scale had trickled down to most Americans? Use this calculator to find out.

In other words, if you're in the bottom 90 percent of earners, your current income would be an estimated 205 percent higher if the vast majority of incomes had kept up with the gains experienced by the superwealthy.

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