CEO Bonuses Rose By Nearly 20% In 2010, While Average Worker Saw Income Stagnate - Think Progress
And people think that we need to cut taxes even more so that the wealth will 'trickle down'. Well here's more evidence that it's not working for the middle class! Only for the millionaires!
5 comments:
Everyone is talking about the post you posted at Cletis at think Progress Now.
Thanks for the heads up :]
Ignorance of history is what allows Rethugs to keep selling their "trickle-down" nonsense. One reason the economy boomed, in the 50's and 60's, was because hoarding money by the wealthy was penalized by taxes. Therefore, wealthy folks reinvested more of their money back into job-creating ventures. Now all the incentives lead CEOs to outsource jobs and hoard their money. This isn't going to change, as long as creeps like Jeff Immelt are still helping to make policy.
Hm, I didn't know that about the 50s and 60s. It sounds like something we need to do now seeing as the rich are sitting on 2 trillion dollars. I'm really starting to wish Obama had found a better person other than Immelt to provide advice about helping turn the economy around. The more I hear about Immelt the more I dislike him.
Ignorance of history is what allows Rethugs to keep selling their "trickle-down" nonsense. One reason the economy boomed, in the 50's and 60's, was because hoarding money by the wealthy was penalized by taxes. Therefore, wealthy folks reinvested more of their money back into job-creating ventures. Now all the incentives lead CEOs to outsource jobs and hoard their money. This isn't going to change, as long as creeps like Jeff Immelt are still helping to make policy.
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