Sunday, December 05, 2010

Trickle THIS!!!

"To put it simply, trickle down economics is a myth with no basis in reality. It is simply an ideology that never was supported by evidence. Right wing conservatives have warned of dire consequences from any attempt to increase taxes on the wealthy ever since the idea was first voiced. From those warnings you would think that the very high rates of taxation on the wealthy starting with FDR’s presidency, and lasting for half a century, would have resulted in catastrophic economic consequences, notwithstanding the reductions in income inequality achieved in part by that taxation. However, just the opposite turned out to be the case." (From Richard Wilkinson’s and Kate Pickett’s book, “The Spirit Level – Why Greater Equality Makes Societies Stronger.)

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