At 01:32 PM 9/25/2004, James B. Byrne wrote:
>However, every reputable economic study involving transfers of wealth
>between and within societies since 1960 to present demonstrates that
>this claim is unsubstantiated and unfounded.  After declining
>significantly form 1940 to 1960, the concentration of wealth in the
>USA in the top 5% of the population has since increased to over 59%
>of the total (and the top 1% controlled 38% of that total - 1998)
>while the percentage of the population controlling less than 10% of
>the total wealth has increased to something approaching 50% (the
>bottom 20% effectively have no wealth at all and literally live day
>to day).  Not only are the poor in the USA poorer than they were in
>1975 their are more of them and their poverty is greater in an
>absolute as well as a relative sense.

How in the world can you say the transfer of trillions of dollars is
unsubstantiated and unfounded?  I don't know about Canada, but it's a FACT
in the US, we have indeed taxed the "wealthy" more and more and more over
the years and given more and more and more to those who do not have as
much.  This has absolutely nothing to do with the amount of wealth that the
wealthy may have.

the FACT is that in the US  the overwhelming majority of federal income
taxes are paid by the very highest income earners. The top 1% of income
earners pay about 32% of all income taxes. The top 5% pays 51.4%. The top
10% of high income earners, pay 63.5%. The top 20% of income earners pays
78% of all federal income taxes.

Home ownership is at an all time high in the US as well.  Now maybe your
figures take in to account all the illegal aliens in the US that are poor,
which wouldn't really surprise me.



Regards,

Shawn Gordon
President
theKompany.com
www.thekompany.com
949-713-3276

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