Perhaps the reason why the poorest Americans have seen their incomes stagnate over the past decade is because the government has grown in size as a % of GDP from 33% in 2000 to 44% in 2010. An increasing government is not the best way to create prosperity, nor lift those on the bottom of the wage ladder out of poverty, because the free market is the best, most efficient, and most fair way to distribute wealth among citizens...not the government. I know that may be a tough one for you to swallow Dr. K, but not everyone has the same definition of “fair”, especially when it comes to money and income.
No wonder the rich (defined as the top 1% if income earners) are “angry”! Their share of total federal income taxes paid has increased from 24.8% since 1987 to 40.4% in 2007. However the money that the rich pay in taxes isn’t being used efficiently, nor is their money going to its highest valued purpose (because it’s being spent by the government). It's hard to deny or paint data that the IRS provides as biased.
The rich are rich for a reason…they have been smart with their savings and invest their capital into opportunities, businesses and industries which in turn creates jobs. I trust that the rich will spend their own money far more efficiently than the burgeoning and cumbersome federal government.
Could not agree more......smp
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