10 years ago 85% of the US stockmarket was owned by the top 10% of families. Today, I have no doubt that, at a 15% tax rate on capital gains and dividends, the ownership level is more like 90% for the exclusive top.
Now we hear that Obama wants to continue the trend Democratic style by raising the tax a meagre 5% to 20%. Keeping the rate low, it is believed, will bring in greater tax revenues, this logic based on the stockmarket bubble of the late 90s, which will never be seen again.
My thoughts are, foooweeeee. Poor folks will get cooked again.
this logic based on the stockmarket bubble of the late 90s, which will never be seen again.
What makes you think that there'll be fewer bubbles in the future?
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
Under Dubya, it's still around 46.
Clinton (and the Democrats) talk a good game but really, they haven't done anything about this subject since Johnson was President.
But true, he speaks well. Which, if I look in the dictionary, is the definition of a demogogue. Fai de bèn a Bertrand, te lou rendra en cagant
