Magazine article The New American

Statistical Class Warfare

Magazine article The New American

Statistical Class Warfare

Article excerpt

ITEM: "The 400 wealthiest taxpayers accounted for more than 1 percent of all the income in the United States in 2000, more than double their share just eight years earlier, according to new data from the Internal Revenue Service," reported the New York Times for June 26th. "But their tax burden plummeted over the same period. The data ... shows that the average income of the 400 wealthiest taxpayers was almost $174 million in 2000. That was nearly quadruple the $46.8 million average in 1992."

BETWEEN THE LINES: This invitation to envy relies on misleading interpretations (e.g., the wealthy make too much but are not taxed enough).

The class-warfare gambit was so blatant that the World Socialist website quickly jumped aboard, with its headline echoing the Times: "Incomes of the ultra-rich quadrupled in eight years." A Wall Street Journal news story pointed with alarm to "so much money in so few hands" and the "startling accumulation of wealth at the very top of the income pyramid. …

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