Quote Of The Day

“Indeed, the share of top incomes coming from capital is much lower now than it has been historically. According to Emmanuel Saez, an economist at the University of California, Berkeley, for the richest Americans — those in the top 0.01 percent of the distribution — the percentage of income derived from capital fell to 25 percent in 2004 from 70 percent in 1929. If your image of the typical rich person is someone who collects interest and dividend checks and spends long afternoons relaxing on his yacht, you are decades out of date. The leisure class has been replaced by the working rich.” — Greg Mankiw,  Harvard Economist in an old NY Times post responding to Buffett’s claims then

17 Responses to “Quote Of The Day”

  • Shorter Mankiw:

    “When people say that the tax rates are not progressive enough they are lying. I will demonstrate this by conveniently ignoring all local and state taxes and fees so as to make these people appear to lie. Then I will declare that the remaining taxes constitute a “highly progressive system” because the top fifth ends up paying a (whopping!!!!) 25%.”

    “25%! Wow, that’s wildly progressive, isn’t it!”

    “Then, for good measure, I will cherry pick some historical data just to see if some unsuspecting blogger falls for it, and makes it his “Quote of the Day”.

  • Sweet blog! I found it while surfing around on Yahoo News.
    Do you have any tips on how to get listed in Yahoo
    News? I’ve been trying for a while but I nevger seem tto
    get there! Cheers

    my blog … speaking of

  • I really like it when individuals get together and
    share views. Great blog, continue the good work!

  • I am curious to find out what blog platform you are
    utilizing? I’m experiencing some minor security problems with my latest blog and I’d
    like to find something more risk-free. Do you have any recommendations?

  • I delight in, lead to I found exactly what I used to be taking a look for.

    You’ve ended my four day long hunt! God Bless you man.
    Have a great day. Bye

  • I like this website very much, Its a really nice
    office to read and incur info.

  • Wow, amazing weblog format! How long have you ever
    been running a blog for? you made blogging glance easy.
    The whole glance of your web site is excellent,
    let alone the content material!

  • It’s truly very complicated in this full of activity life to listen news on TV, so I only use
    world wide web for that reason, and take the latest news.

  • I do trust all of the concepts you have offered in your post.
    They are very convincing and will definitely work.
    Still, the posts are very quick for novices. May just you please lengthen them a little
    from next time? Thanks for the post.

  • You are a very intelligent person!

  • Sweet blog! I found it while searching on Yahoo News. Do you have any
    tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there!
    Many thanks

  • Very good post. I absolutely love this site. Thanks!

  • I was wondering if you ever thought of changing the structure of
    your site? Its very well written; I love what youve got to say.
    But maybe you could a little more in the way of
    content so people could connect with it better. Youve got
    an awful lot of text for only having 1 or two pictures.
    Maybe you could space it out better?

  • BcAAiF zvgtmctszxkf, [url=http://duwqcbkhatcj.com/]duwqcbkhatcj[/url], [link=http://kidiwuubortp.com/]kidiwuubortp[/link], http://xuhupxvcuuek.com/

  • I blog often and I truly thank you for your content. The article has really peaked my interest.
    I will bookmark your website and keep checking for new information about once per week.

    I opted in for your RSS feed too.

  • This design is steller! You certainly know how to keep a reader
    amused. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Wonderful job.
    I really enjoyed what you had to say, and more than that, how you presented it.

    Too cool!

  • Excellent site. Plenty of useful information here. I am sending it to a few pals ans also sharing in delicious.
    And certainly, thanks in your sweat!

Leave a Reply