Tuesday, December 21, 2010

Rep. Jan Schakowsky(D-IL) on Russian TV

"Top 1% of Americans control 34% of the wealth in our country, which is more than the combined wealth of the bottom 90%"

So it’s funny how she failed to mention the remaining 2%-19% of the people that control 50% of the wealth.
Guess where Jan falls in to... that’s right, the 2%-19% Net worth $417,000 (2007)

"Who going to benefit, and who’s going to suffer."
The lazier liberal will benefit. Who’s going to suffer? Job creators.

So let’s break this down.
The top 1% of Americans, millionaires/billionaires, are at the top of the heap.
The 2-19%, which she never talked about because she falls in to that category, wants to tax the top 1% at a higher rate (Wonder what happened to all the $250K+ talk from the left?)... For what?

To make them suffer losses, to bring them down to the level of rest of the 80%... Elevating the 2-19% to the top of the heap.

Now, according to Professor G Williams Domhoff of the UofC Santa Cruz:

"the top 1% of income earners, who average over $1 million a year, actually pay a smaller percentage of their incomes to taxes than the 9% just below them."

So is this an agenda to re-distribute the wealthiest income to the middle class and poor?
OR is this bitterness by the 2-19% that they pay more in over all taxes then the top 1%?

Take a look
US Population- Net worth held
Top 1%- 35%
Top 19%- 50%
Rest 80%- 15%

US Population- Financial Wealth
1%- 43%
19%- 50%
80%- 7%

Looks like Jan forgot about herself in interview with a Russian TV reporter.


AdamsPatriot said...

The widening gap that is putting more Americans in the bottom category is not due to top one percent, it's due to the reckless financial policies of the U.S. government since 2007 with an ecceleration in financial recklessness and demonization of the free market since 2008.

Unknown said...

Henceforth this post. Schakowsky fails at her attempt to manipulate the truth and the figures. Have you notice that the 'raising taxes on everyone above the $250K threshold' has dissipated to now talking about millionaires?
They came to the realization that THEY fall in to the $250K+ category.