Household Incomes in Free Fall

Bill Hitchcock July 23, 2012 4
Household Incomes in Free Fall



So you still want to tax the top one percent income earners? They may be tapped out already. A recent report by the Congressional Budget Office (CBO) shows that for the 2008 and 2009 reporting period that the incomes for the top one percent earners fell by 37%. The average household income across all of America fell by 12% during the same time period. Read the complete CBO report.

 


4 Comments »

  1. Leah July 23, 2012 at 1:28 PM - Reply

    So all the villianizing of the wealthy and they are losing money at a more substantial rate than the average American? They pay taxes while most Americans do not. When do we see them publicly stand up for themselves?
    I’ll stand up for them! If they can be millionaires and billionaires through hard work and ingenuity maybe my children can achieve that level of success. I don’t want my children to grow up thinking social services are going to save them because truthfully, I don’t want them to have to use them. I’d rather they fund the poor than be the poor.
    If we keep pushing hard on the wealthiest in our country when are they going to start asking what they are getting for their money? Right now, our government needs to get its hands out of their wallets and start cutting some real important discretionary spending like private jets and Solyndra, solar panels on government property, unproductive workers in government that have productivity standards they don’t meet, and however many trips 9th circuit court of appeals charges taxpayers for. How many average citizens have professional development in Maui? C’mon.
    There is no way to justify the arrogance of the individuals supporting distribution of wealth. It isn’t surprising to me that the Occupiers have virtually disappeared. They are back to their positions in ACORN or the DNC trying to figure out how the polls are going to go.

  2. Sue July 25, 2012 at 7:12 AM - Reply

    Leah: Stop with the fantasy that “most people who are not the 1% do not pay taxes”. The Middle class pays and pays and pays! Do you really not have a single friend who is middle class? Shees.

  3. josh July 26, 2012 at 1:33 PM - Reply

    I am in the low middle class and yes i do pay taxes but i recieve most back on tax return. I completely agree with Leah. Why tax somebody for working hard and becoming sometging with their life. Not all rich people were born with a silver spoon in mouth. Alot of tgem worked for it. Look at trump, he used to live in his car. I am with you Leah, i wish the rich would stand up for this. Oh hey there rich people who went to college and went through hard times starting their business who sometimes didnt think they would make it but persevered through…i want your money because the best thing i ever did was become manager at wendys. Thats childesh

  4. Bill Hitchcock July 27, 2012 at 5:19 PM - Reply

    Class warfare. That is what Obama wanted to create and has done his job well. The only way to get away with something wrong and unfair is to first demonize your subject. Once you dislike them or think less of them then you can justify doing a wrong to them. Obama has done that and done that well.

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