Saturday, August 22, 2015
The Rank Fallacies of Bernie Sanders
a) That the economy is a fixed pie and that the only real question is how to divvy it up. b) That the poor and middle class are worse off than they were decades ago. c) That high tax rates on the wealthy don't have negative consequences (mainly that the rich will simply alter their behavior). d) That individuals and families are forever stuck at their present strata. e) That regulations don't retard economic growth and that they disproportionately hinder the big boys. f) That tinkering with the price (and wage) system doesn't have dire consequences. g) That it is OK to look at economic inequality numbers without including transfer payments and income taxes paid. And h) that the rich are getting richer and the poor are getting poorer ( the fact that Treasury statistics show the exact opposite; namely, that the ACTUAL human beings in the top 1% and bottom quintile experience a sharp decrease and increase respectively when it comes to their Adjusted Gross Income).............Data - http://www.treasury.gov/resource-center/tax-policy/Documents/incomemobilitystudy03-08revise.pdf - as you can plainly see in table 3, the bottom quintile (THE ACTUAL HUMAN BEINGS!!) saw their income go up 91%, this while the top 1% saw their income go down 26%.