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The incredible shrinking middle class.
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<blockquote data-quote="av8torntn" data-source="post: 291349" data-attributes="member: 8259"><p>This article takes a different view. Just something to consider.</p><p> </p><p> </p><p>From the article.</p><p> </p><p>"Those attempting to measure incomes by what is reported on individual income tax returns erroneously viewed this as a large increase in income at the top, but it simply was a meaningless bookkeeping change in the way those incomes were reported. Switching from the corporate tax to the individual income tax did not make the rich any richer—it simply made more of their income show up on individual income tax returns and, therefore, in the CBO and Piketty-Saez estimates."</p><p> </p><p><a href="http://www.cato.org/pub_display.php?pub_id=8802" target="_blank">http://www.cato.org/pub_display.php?pub_id=8802</a></p></blockquote><p></p>
[QUOTE="av8torntn, post: 291349, member: 8259"] This article takes a different view. Just something to consider. From the article. "Those attempting to measure incomes by what is reported on individual income tax returns erroneously viewed this as a large increase in income at the top, but it simply was a meaningless bookkeeping change in the way those incomes were reported. Switching from the corporate tax to the individual income tax did not make the rich any richer—it simply made more of their income show up on individual income tax returns and, therefore, in the CBO and Piketty-Saez estimates." [URL]http://www.cato.org/pub_display.php?pub_id=8802[/URL] [/QUOTE]
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