One of my favorite conservative memes of
recents years is the claim that arguing for sensible tax policy
towards corporations and the wealthy is somehow “class warfare.”
Unable to engage on the issue and unwilling to confront the reality
that increasingly skewed economic divides damage democracy, the
Right contents itself with another rhetorical out.
Meanwhile, real class warfare–the Bush agenda the middle class–is claiming more casualties
Americans earned a smaller average income in 2005 than
in 2000, the fifth consecutive year that they had to make ends meet
with less money than at the peak of the last economic expansion,
new government data shows.
While incomes have been on the rise since
2002, the average income in 2005 was $55,238, still nearly 1
percent less than the $55,714 in 2000, after adjusting for
inflation, analysis of new tax statistics show.
Showing a typical disconnect from reality, the White House blamed
the collapse of the Internet boom. Maybe I’m wrong, but were
average working Americans really seeing huge increases in their
income as a result of the ‘net’s growth? In fact, I would bet the
people who saw the most growth in their income then were the rich,
who could affford to make large investments. Surely they’ve
suffered as a result?
Not so much.
The growth in total incomes was concentrated among
those making more than $1 million. The number of such taxpayers
grew by more than 26 percent, to 303,817 in 2005, from 239,685 in
These individuals, who constitute less
than a quarter of 1 percent of all taxpayers, reaped almost 47
percent of the total income gains in 2005, compared with 2000.
I’ve never understood working class and middle class people who
support this President’s economic policies. They’re not
benefiting from them at all. Tax cuts sounds appealing; no one
wants to pay more taxes, but when the President’s tax policy
mortages our children’s future for the sake of the elite buying
luxury items, maybe it’s time to reconsider.