Monday, March 25, 2013

DRIBBLE DOWN ECONOMICS

THE "TRUST ME" CON
Johann Wagener 3-25-13

As Joe Biden well put it; "Americans have the right to be stupid." and it appears we do good job at exercising that right when it comes to buying in to Ron Reagan's and companies pitch on the "trickle down" con game.
The punch line goes something like this; "trust me, if you let me keep all my money one day you will be rich too."


Incomes for the bottom 90 percent of Americans only grew by $59 on average between 1966 and 2011 (when you adjust those incomes for inflation), according to an analysis by Pulitzer Prize-winning journalist David Cay Johnston for Tax Analysts. During the same period, the average income for the top 10 percent of Americans rose by $116,071, Johnston found.