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In reply to the discussion: 'We were shocked': RAND study uncovers massive income shift to the top 1% [View all]Warpy
(110,913 posts)39. Exactly. It was also at the cost of stiffing small shareholders on what should have been dividends.
That 90% top marginal rate had done a lot of stifle naked greed in the executive suites. Back then the game was having the corporation buy the Lear jets, the vacation properties, hire the chefs for the executive dining facilities, and letting the greedheads have their perks that way. Lowering the marginal rate meant they could go for the money without shoving themselves into a confiiscatory tax bracket.
It started the ball rolling on the Gilded Age we have now.
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'We were shocked': RAND study uncovers massive income shift to the top 1% [View all]
Sherman A1
Sep 2020
OP
RAND has been used and abused for decades. Sometimes they are right about something.
erronis
Sep 2020
#29
Exactly. It was also at the cost of stiffing small shareholders on what should have been dividends.
Warpy
Sep 2020
#39
We need to start taxing wealth, high incomes, stock sales while eliminating many cuts and loopholes
LonePirate
Sep 2020
#7
Yep! "Trickle down economics" is doing exactly what it is designed to do...
Wounded Bear
Sep 2020
#15
Seriously? Shocked? We've been living it. Middle class on life support and we're on the edge.
Evolve Dammit
Sep 2020
#26
Today's Minimum Wage Would Be $24 if worker pay had kept pace with productivity gains since 1968
iluvtennis
Sep 2020
#27
Only someone truly clueless or asleep for the last four decades could be shocked
pecosbob
Sep 2020
#31
When I first graduated from college in 1984, my supervisor said that incomes double every 15 years.
aggiesal
Sep 2020
#40
Dear Tea Partiers, Trumpers, all Republicans: Your wealth has officially been redistributed.
Beartracks
Sep 2020
#45