Reagan's "Trickle Down" Economics are working for someone ...

but probably not you!

NEW YORK (Reuters) - The richest one percent of Americans earned a postwar record of 21.2 percent of all income in 2005, up from 19 percent a year earlier, reflecting a widening income disparity among different classes in the nation, the Wall Street Journal reported, citing new Internal Revenue Service data.

The data showed that the fortunes of the bottom 50 percent of Americans are worsening, with that group earning 12.8 percent of all income in 2005, down from 13.4 percent the year before, the paper said.

It said that while the IRS data goes back only to 1986, academic research suggests that the last time wealthy Americans had such a high percentage of the national income pie was in the 1920s.

from Reuters via Yahoo.

My take?

Lets see what that actually looks like:

In 2005 -

Wealthiest 1% of the population = 21.2% of the total income for the year


Poorest 50% of the population = 12.8% of the total income for the year

Lets look at it another way. If there was $100 on the table and 100 of us in the room, 1 of us would get $21.20 to play with while 50 of us would get to SPLIT $12.80 BETWEEN US - or about $.25 apiece.

Do you think things have improved in the last couple years since these stats were compiled? umm ... for whom? Can you spell "T-R-I-C-K-L-E U-P"?

And all those tax breaks for the guy who gets the $21.20 to play with based on the theory that he'll invest the money and create jobs? Well, he is investing the money and he is creating jobs ... in Honduras and in the Far East, all over the world where slave labor rates are the custom ... not here.

The next time you're asked to vote for a tax cut, ask who gets the DIRECT benefit. If it isn't you, vote NO. Don't be suckered by the indirect benefits of the Trickle Down theory. It's a scam. You're betting that a right wing, conservative capitalist, when confronted with the choice of money in his pocket or money in yours will opt for protecting your interests. Personally, I'd take the conservatives at their word ... you're on your own, baby! And he has no interest what-so-ever in seeing you join the club, either.

Reagan's Trickle Down Economy is a myth, a scam, a hustle and a con game. If you're in anything other than the top quartile of wealth in this country ... you're the mark in a Three Card Monte game. Oh, there's always a winner, but get a clue ... it ain't you.