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