Top 1 Percent Take Record Share of U.S. Income
WASHINGTON — The top 10 percent of earners took more than half of the country’s total income in 2012, the highest level recorded since the government began collecting such data a century ago.
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"Ronald Reagan's theory was really 'trickle down' economics...and renamed 'supply side.' Cut tax rates for the wealthy; everyone else will benefit. As Reagan's budget director David Stockman confided at the time, the supply-side rhetoric 'was always a Trojan horse to bring down the top rate.'" —The Gipper's Economy. To see how the Trickle Down Con was sold to the public click here.