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<blockquote data-quote="rickyb" data-source="post: 2142275" data-attributes="member: 56035">anyways, you would hope an economic system (crony capitalism) which distributes the money so unequally and so poorly in the first place would be countered by a tax system which redistrubutes the money more evenly.&nbsp; i dont think your tax system does this.&quot;DAVID CAY JOHNSTON: And, in fact, we have redistribution in this country, but it is very much upward. You know, the phrase &quot;trickle-down&quot; was invented to mock Ronald Reagan’s tax policies. But the reality is, it’s not trickle-down, it’s Amazon-up, Niagara-up. And all you have to do is look at the data. From 1961 through 2007, the bottom 90 percent of Americans saw their income rise little tiny amount. But if you’re in the top top group of America, the plutocrat class, for every dollar that each person in the bottom 90 percent got after taxes, you got $35.50—$36.50. Your taxes, if you’re in the plutocrat class, fell from a mid-40 percent range down to where Romney is, 15 percent or so. In 2009, we had six people, according to IRS data, who made over $200 million, who paid no income taxes. And we have people who make billion-dollar incomes and can pay no income taxes because of the rules we have that allow people who are hedge fund managers and private equity managers, like Bain &amp; Company, which was the sole property of Mitt Romney, to defer all of their income. Now, how do they live? Just the same way that the guys who create the internet companies, who take a small salary, and the company pays no dividend, are able to afford their private jets and their mansions: they borrow against their untaxed assets.&quot;</blockquote>

[QUOTE="rickyb, post: 2142275, member: 56035"] anyways, you would hope an economic system (crony capitalism) which distributes the money so unequally and so poorly in the first place would be countered by a tax system which redistrubutes the money more evenly. i dont think your tax system does this. "[B]DAVID CAY JOHNSTON:[/B] And, in fact, we have redistribution in this country, but it is very much upward. You know, the phrase "trickle-down" was invented to mock Ronald Reagan’s tax policies. But the reality is, it’s not trickle-down, it’s Amazon-up, Niagara-up. And all you have to do is look at the data. From 1961 through 2007, the bottom 90 percent of Americans saw their income rise little tiny amount. But if you’re in the top top group of America, the plutocrat class, for every dollar that each person in the bottom 90 percent got after taxes, you got $35.50—$36.50. Your taxes, if you’re in the plutocrat class, fell from a mid-40 percent range down to where Romney is, 15 percent or so. In 2009, we had six people, according to IRS data, who made over $200 million, who paid no income taxes. And we have people who make billion-dollar incomes and can pay no income taxes because of the rules we have that allow people who are hedge fund managers and private equity managers, like Bain & Company, which was the sole property of Mitt Romney, to defer all of their income. Now, how do they live? Just the same way that the guys who create the internet companies, who take a small salary, and the company pays no dividend, are able to afford their private jets and their mansions: they borrow against their untaxed assets." [/QUOTE]

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