Monday, March 7, 2011

Interesting Comparison

From the Center for American Progress (h/t Balloon Juice):
The fact of the matter is that tax rates on the wealthy have gone down significantly in the past 10 years, while income disparity has increased significantly.  I just finished reading The Great Crash, 1929, by John Kenneth Galbraith, and one of his main explanations of the depth of the Great Depression was that income disparity became too great, then when Hoover instituted tax cuts, they only benefitted the best-off.  Sometimes history echoes.

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