Plutocracy Reborn

The following graph (from the Nation Institute) shows how periods of low top-marginal tax rates and consequent extremes of income inequality precede economic meltdowns.

What’s the connection?

Answer: with wealth concentrated in the hoarding class, little spending power is left in the middle and lower classes. The engine of economic growth is out of gas.

SEE FULL-SIZE ORIGINAL GRAPH HERE

SEE FULL-SIZE ORIGINAL GRAPH HERE

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