Wealth+Distribution+and+Power

Wealth+Distribution+and+Power - Wealth Distribution and...

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Wealth Distribution and Power
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Power has to do with the ability (or capacity) to realize wishes, or reach goals, even in the face of opposition.
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Donations to political parties Payment to lobbyists Grants to experts to think up new policies beneficial to the wealthy
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Top 0.1% Top 0.01 % Household Income 1947-'73 1973-'05 Source : Economic Policy Institute Percent Increase Poorest 20% Second 20% Middle 20% Fourth 20% Richest 20% 0 50 100 150 200 250 300 350
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Although overall income has grown by 27% since 1979, 33% of the gains went to the top 1%. Meanwhile, the bottom 60% were making less: about 95 cents for each dollar they made in 1979. Those in the middle made $1.02 for each dollar they made in 1979. Source: NY Times analysis of a November 2006 report on income by the IRS, 2004.
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0.5 1.0 1.5 2.0
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Demand Side Economics After Great Depression Government needed to stimulate demand for goods and services through creation of jobs Supply Side Economics Trickle Down Theory Lift the tax burden from concentrated private wealth
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CHANGES Reduction in marginal income rates for highest earners Reduced rates on dividends and capital gains Massive tax cuts in 2000 and 2003 EFFECTS Increased interest rates Job growth and worker earnings stagnant or falling
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Wealth+Distribution+and+Power - Wealth Distribution and...

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