the congressional budget office
looked at that and it's non-partisan so these are very respected figures both
sides uh...
but let's quote the congressional budget office all the time is non-partisan as
it gets
uh... and in fact the use of iris numbers so that there's no arguing with
it
well they just came out
uh... with numbers showing know how this country has changed and how that income
inequality has written that the reason in this country
between
and nineteen seventy nine and two thousand in seven about thirty years
stretch of seven is the last set of numbers that they had to work with right
so when you look back of what is happening to the different
uh... brackets in this country what we'll do the poorest twenty percent in
this country although death thirty-year period
their income has risen
but by only eighteen percent
and in fact in that time period
this cher of the countries income
that their bond twenty percent has
has gone down from seven percent
two five percent
so mean
they're doing had all k over a thirty-year period one brag about
eighteen percent
as a compared to the other classes
their numbers have gone down talked a lot of brac so k
but the mold the country well
clearly the metal sixty percent a population their income has risen forty
percent
but their share of income
has also gone down
from twenty eight percent in nineteen seventy nine to twenty five percent of
asian thing coming in two thousand and seven so somebody's getting rich is not
these guys
well let's go to the top uh... nineteen percent and see if
how they have done well they've done very well
they've got sixty five percent income increase overall and their share of the
income
has gone up from forty three percent
the fifty three percent so they've done much better compared for the bottom
eighty percent
well we let that one percent there right
the top one percent well how they did
their income has risen two hundred and seventy five percent
nearly triple
the their share of the income
in the country was eighty percent in nineteen seventy nine
it has more than double dip in the last thirty years to seventeen percent
so they've got a bigger and bigger share avenger
now what how did this happen
there was an accident that was in that the resolve some work harder and our
pressure
notably manipulated the tax code for example
they lower taxes on capital gains and evidence what is that that's investment
income
sold-out if you're a plumber you don't have a lot of investment income
if you're steve forbes and your dad left hundreds of millions of dollars you have
a lot of investment co
slow when you'd lower the taxes for investment income the rich get richer
it's not an accident they turn on purpose ivy show you all the rules and
regulations that were changed
to benefit the rich
for example unlimited
uh... risk-taking by the banks makes the banking executives richer
so then the top one percent was shockingly enough had two hundred
seventy percent gains
you julie was well of course not your share of income overall
lower they're serving com more than double
and that's how it works interact with this chart to give you a sense of it
uh... here all the different relations from nineteen seventy nine
to two thousand seven
popular that uh... not uh... has got us demos them all and from a couple of
interesting that letter and then the top one percent
throw the roof
do you see what people are upset about
hagan it's not because they are upset that the rich are doing better because
they work toward her
fact and said
but the richer getty have bigger bigger share of our income
because it takes the waltz
so they go to the government a donate a little bit yesterday we showed you the
chart that shown
investing in a politician gets to you
twenty two thousand percent return on your investment
the best investment you can make
look i'll give you one more example there's a tax bracket
called uh... carried interest
and it only basically applies the hedge funds and private equity manage these
are the people who manage money
for the richest people in the country in the world
it's not even their own money so it is not an investment
because i think she's they always use for dad dividend and capital gains is a
lodge an investment job grade as a setter
no they're using other people's money is simply income that they're gay
nonetheless that was lowered to fifteen percent
so the the richest hedge fund guys private equity managers in the country
are paying fifteen percent lower than the average american
on money that they are transact thing for all the rich folks
that is simply a cop
how did he do that
well that's because some of the top hedge fund managers
or some of the top contributors to both republicans and democrats they fixed the
rules so that it is to their advantage
and the results are stunning
and gee i wonder why we've got about by wall street movement