Why are you lying?
'(A) 2007 Treasury Department study (shows) nearly 58% of U.S. households in the lowest-income quintile in 1996 moved to a higher level by 2005. The reverse also held true. Of those households that were in the top 1% in income in 1996, more than 57% dropped to a lower-income group by 2005.
Every day in America, the poor join the ranks of the rich, and the rich fall out of comfort.
So even if income equality is increasing, it does not mean income mobility is decreasing. There is still a great deal of movement in and out of the richest and poorest groups in America.
problem with the census data is they don't include the noncash income received by the lowest-income households. Each year, the poor get tens of billions of dollars in subsidies for housing, food and health care. None of these transfer payments, a lot of it paid for by the 1%, is counted as income by the Census Bureau.
One report estimates that the share of total income earned by the lowest-income group would rise roughly 50% if such welfare were considered.
Likewise, the share of total income earned by the top income quintile would drop about 7% if taxes paid to fund welfare were considered.
Census doesn't take into account the equalizing effects of taxes. Though they earn more than 45% of total income, the top 10% of taxpayers pay over 70% of the total income-tax burden. The top 1%? They shoulder a whopping 40% of the tax load.
Federal Reserve and other data - which include all financial and nonfinancial assets, including bank accounts, investments, houses and cars - give a more complete picture of the gap. When you count all wealth, not just income, inequality has not gotten worse.
The top 1% account for 35% of total wealth, compared with 37% in 1922. In fact, the worst wealth disparity ever was in the 1990s under President Clinton.' - Investors Busting the 1% Myth
'A recent study by the Organisation for Economic Co-operation and Development found that when measuring household taxes(income taxes and employee Social Security contributions), the United States "has the most progressive tax system and collects the largest share of taxes from the richest 10 percent of the population," placing a heavier tax burden on high-income households than other industrialised nations do. The lastest Congressional Budget Office figures show that the top 1 percent of income earners in the United States paid 39 percent of federal income taxes while earning 18 percent of pretax income and the top 5 percent of income earners paid 61 percent of federal income taxes whole earning 31 percent of pretax income. Indeed, the top 40 percent of income earners paid 99.4 percent of federal income taxes. The bottom 40 percent of income earners paid no federal income tax and received 3.8 percent from the tax system. And the middle 20 percent of income earners pay only 4.4 percent of federal income taxes.' - Scott A. Hodge
'Inasmuch as economic equality is unachievable, even in the most repressive socialist states, it serves the Statist's purpose to contrive a class system in which individuals are grouped by officially sanctioned, arbitrary economic categories. In this way the Statist stirs up class envy. The free market is, therefore, said to be incapable of serving the public interest, for it produces unjust results, thereby requiring further government intervention. The Statist also attempts to manipulate the intensity of the "class struggle" by routinely redefining terms and categories of wealth - who qualifies as the detested "rich," the righteous "middle class," and the disenfranchised "poor."
Who populates th(e) "middle class"? Is it the twenty-five-year-old female paralegal who graduated from college, works at a large law firm, earns $85,000 a year, is unmarried and without children, lives in an apartment in Manhatten, and rarely attends church in the same "middle class" as the fifty-seven-year-old male auto mechanic who did not graduate from high school, works at Pep Boys, earns $55,000 a year, lives in a row home in northeast Philadelphia, is married with four children, and attends church every Sunday?' - Mark Levin