Yet somehow we need to give the rich tax breaks?
(NEWSER) - It’s tempting to say that the US now has a banana republic-level income inequality, but that’s not fair—to banana republics. “The truth is that Latin America has matured and become more equal,” writes Nicholas Kristof of the New York Times , even as the US has gone the other way. In the 1940s, the top 1% of Argentines controlled roughly 20% of the country’s income, twice what America’s top 1% earned. Since then, we’ve switched places; America’s top 1% now enjoys 24% of its income. More»
