Thursday, September 1


Here's Holden's Bush Boom:

This week's census report showed that income inequality was near all-time highs in 2004, with 50.1 percent of income going to the top 20 percent of households. And additional census data obtained by the Economic Policy Institute show that only the top 5 percent of households experienced real income gains in 2004. Incomes for the other 95 percent of households were flat or falling.

Income inequality is an economic and social ill, but the administration and the Congressional majority don't seem to recognize that. When Congress returns from its monthlong summer vacation next week, two of the leadership's top priorities include renewing the push to repeal the estate tax, which affects only the wealthiest of families, and extending the tax cuts for investment income, which flow largely to the richest Americans. At the other end of the spectrum, lawmakers have stubbornly refused to raise the minimum wage: $5.15 an hour since 1997. They will also be taking up proposals for deep budget cuts in programs that ameliorate income inequality, like Medicaid, food stamps and federal student loans.

They should be ashamed of themselves.


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