In his column “Obama picks a good fight”, Robert Reich provides the following information:
“For more than 30 years, from World War II to 1981, the top marginal tax rate never fell below 70 percent…The top rate is now 35 percent and it applies only to income over $379,000.”
“Only just over 1 percent of small-business owners earn enough to be taxed at the to rate – and that’s just on the portion of their incomes exceeding $379,000.”
“The ratio of corporate profits to wages is higher today than it’s been since before the Great Depression. Even as salaries and perks keep rising in executive suites, the median wage continues to drop, and jobs continue to be shed.”
WATCHDOG: Two wags of the tail for researching and publicizing the facts!
