Village News - Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

Do you have confidence in the American economy?

 

Last updated 6/21/2007 at Noon



Glen Holzhausen recently said the economy, referring to the Wall Street Journal [“What can I say?” Village News, Opinion, 6/7/07]. He should quote Fox News, too – both cheerleaders for a flagging economy. Here are facts:

Forty percent of the tax benefits from Bush’s tax cuts have gone to the top one percent (those whose incomes are $850,000 and above).

That top one percent has increased their total share of pre-tax earnings. In 1980, they took home about eight percent of total earnings. Now, they take home 16 percent.

That means the top one percent are taking income away from the...



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