Monday, January 08, 2007
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Conservatives have been doing this for years so I'm not surprise Ezra Klein nails Larry Kudlow once again:  When confronted by statistics showing the top 1% continue to gain an even greater chunk of the country's income and wealth at a rapid clip, they usually say, "but they pay most of the taxes?"  Okay, we're not talking about the same thing are we? 

Say it with me slowly, if a very small percent of the population controlled upwards of 85% of the country's financial assets plus over 50% of the national income, then they they control most of the country's financial assets and a huge chuck of the overall income.  In our system, if they have more income and financial assets then 99% of the rest of the population then they will pay a much larger percentage of the taxes!  Pretty simple. Round and round and round....

RM