File this under:
if you're not outraged, you're not paying attention.
The following is from Wealth and Democracy: A Political History of the American Rich by Kevin Phillips via Jeff at Notes on the Atrocities.
Remember that none of this includes GWBs latest onslaught.
After-tax income, adjusted for inflation
Middle 20%, -3%
- : $32,400
- : $31,400
Top 20%, +38%
- : $74,000
- : $102,300
Effective tax rates, median vs. top 1% (income and FICA)
Median, Top 1%
- : 5.3%, 76.9%
- : 16.1%, 68.6%
- : 24.4%, 24.9%
Corporate tax rates vs. payroll taxes
Corporate tax rate, payroll rate
- : 26.5%, 6.9%
- : 17.0%, 18.2%
- : 10.2%, 31.1%
Household debt as a percentage of annual personal income (after tax)
- : 38%
- : 94%
I usually try to comment on the tidbits I post, but I'm really too appalled to be coherent. Go read the rest of what
Jeff says.