We all know the essentials of the Leftist narrative regarding the
rich. Insofar as Occupy Wall Street has become a glorified
communications shop for that narrative, the claim advanced by those on
the Left is that the rich are getting a disproportionate amount out of
America’s political and economic system while contributing almost
nothing back – that is, except insofar as they spend money to buy
elections and kill democracy. Moreover, they claim, the rich have felt
practically none of the brunt of this recession, while the little people
– the so-called 99 percent – have borne almost all of it.
A pity that, according to a new report from the Congressional Budget
Office (CBO), this entire narrative reduces to an alternate reality.
Let’s go down the list of talking points as a sort of Q&A, with the
help of this fantastic explanation of the CBO report from the Washington Times, and see how much of it survives.
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LOL!!
ReplyDelete"In terms of actual earnings, the top 1 percent suffered the most in the recession, with their average earnings dropping from $1.9 million to $1.2 million."
Oh how tragic. When's the candlelight vigil? I guess all the people who's household wealth, retirment savings, and jobs were knocked out due largely to the housing crisis should consider themselves lucky.