Tuesday, July 27, 2010

wealth quote and stat of the week from Too Much Weekly

Too Much weekly:
Quote of the Week

“Across this country, schools are firing teachers, first responders are underfunded, and hard-working Americans are being denied basic services, all while our deficit reaches record highs. And yet, billion-dollar fortunes are exempt from paying their fair share of estate taxes. There is something wrong with this picture.”
Senator Tom Harkin, July 20, 2010, explaining why he is co-sponsoring legislation that would set a 65 percent estate tax on fortunes over $1 billion

Stat of the Week

How much has rising executive pay tilted America's income scales? One indication: In 1972, the nation's top 1 percent took in 7.75 percent of all income in the United States, excluding the capital gains from buying and selling stock and other assets. The comparable top 1 percent share in 2008: 17.67 percent."