Income Gap Shrinks in Slump At the Expense of the Wealthy

The Wall Street Journal ^ | 09-09-09 | BOB DAVIS and ROBERT FRANK

[GOP_Lady]

The deepest downturn in the U.S. economy since the Great Depression may finally shrink the gap between the very best-off Americans and everyone else.

If so, it won't be by lifting up the bottom. It will be by pulling down the top.

[GOP_Lady]

A very interesting article that covers the "income gap," income taxes and other things as well. It also contains great interactive charts.

[traditional1]

Yup....socialism; where everyone gets to equally poor via wealth-redistribution.

[livius]

Just what Obama has always wanted. Unless, of course, we’re talking about his income...

[cc2k]

This is a result of His Obama-ness’s program of “trickle up poverty.”

[Sax]

"In general the art of government consists in taking as much money as possible from one class of citizens to give to the other." [Voltaire]

"The government consists of a gang of men exactly like you and me. They have, taking one with another, no special talent for the business of government; they have only a talent for getting and holding office. Their principal device to that end is to search out groups who pant and pine for something they can't get and to promise to give it to them. Nine times out of ten that promise is worth nothing. The tenth time is made good by looting A to satisfy B. In other words, government is a broker in pillage, and every election is sort of an advance auction sale of stolen goods."[H. L. Mencken]

The urge to save humanity is almost always only a false-face for the urge to rule it. [H.L. Mencken]

[17th Miss Regt]

I recall a news article today discussing the economy that said that folks were waiting on the well off to begin spending again in order to start the economy back up. From this article, it seems as if their spending money is gone.

[GOP_Lady]

WaPo: Economic Recovery May Depend on Wealthy

RUSH: You people, you’re saving too much. Just yesterday or over the weekend, Obama was saying, “You’re not saving enough. We need to expand savings options, and one of the things we’re going to do and we’re going to send your income tax refund to you in a savings bond,” which allows them to keep your money! Forced savings. Even though you’re saving too much and not spending enough. Now we’re waiting for the rich to step up their spending. Because I guess the poor getting food stamps to buy food, toothpaste, and detergent simply isn’t reviving the economy. Tax cuts for the poor simply aren’t doing the trick.

http://www.washingtonpost.com/wp-dyn/content/article/2009/09/08/AR2009090803519.html

[17th Miss Regt]

Yep. That looks good! Thanks!

[GOP_Lady]

You’re welcome.

Thanks for reminding me about that article.

I think that’s what this economy is waiting for.

[SaraJohnson]

A marxist’s answer to create “equality.” Knee cap the ones doing well. Obama is knee capping the US so that we are equal with Africa.