Letter - Face facts: Trickle down has failedThe richest 400 people have more wealth than 150 million Americans combined. Literally.
To the editor:
The richest 400 people have more wealth than 150 million Americans combined. Literally.
CEOs here rake in 400 times the pay of an average worker, one third of all the pay in America, and get lavish packages specifically by cutting wages and benefits for employees.
The top marginal tax rate has dropped from 94 percent to 35 percent, with loopholes so large that the Romneys in this world pay less than 14 percent.
The poorest fifth of America has zero real income gains, yet worker productivity has spiked. Some nutbags want to double down on this failed scheme by getting you to work longer, harder, and faster for less. It’s time to face facts: 30 years of trickle-down economics has failed miserably.
Shawn A. Olson
(A paid political letter)