Matthew Yglesias » Concentrating the Wealth More Narrowly

Oct 20th, 2008 at 12:54 pm

Concentrating the Wealth More Narrowly

VP for Economic Policy Michael Ettlinger has the facts and observes that the McCain family would receive a $55,000 tax cut under McCain’s capital gains tax proposals. That, I believe, is more than the median household income in the United States, so obviously the typical person would get much less than that. The McCains income in 2007 was $4,602,437.

Again, you can see why they’re opposed to spreading the wealth around. But how many Americans really join McCain in the belief that we need to concentrate the wealth more narrowly in the hands of the wealthiest families?

Comments
14

Filed under: Budget, Inequality, taxes

14 Responses to “Concentrating the Wealth More Narrowly”

Don Williams Says:
October 20th, 2008 at 1:17 pm
1) To continue the earlier thread, I seem to recall that what the REAL Commies did was kill the wealthy and divvy up the spoils.

2) Something that Shays and his fellow Continental Army veterans were starting to do back in the 1780s — which is why a bunch of rich men formed a secret conspiracy here in Philly and created a con game called the US Constitution.
nobi yuno Says:
October 20th, 2008 at 1:46 pm
i get the point, but in generally i really don’t like this line of political argument: that candidate X supports policy Y because it will personally benefit him. if it’s a good policy, should candidate X not support it out of an excess of aversion to conflict of interest? no.
Francisco The Man Says:
October 20th, 2008 at 2:34 pm
I would just note that the $4,602,437 family income is below the $5 million figure that McCain cited as the upper boundary of “middle class.”

So according to McCain, even a guy like himself is “middle class,” 13 homes and all.
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Matt Yglesias

Concentrating the Wealth More Narrowly

14 Responses to “Concentrating the Wealth More Narrowly”

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