home *** CD-ROM | disk | FTP | other *** search
/ NetNews Usenet Archive 1992 #27 / NN_1992_27.iso / spool / alt / fan / danquay / 7007 < prev    next >
Encoding:
Internet Message Format  |  1992-11-19  |  2.6 KB
  1. Path: sparky!uunet!haven.umd.edu!darwin.sura.net!wupost!uwm.edu!psuvax1!psuvm!kel111
  2. Date: Thu, 19 Nov 1992 22:22:13 EST
  3. From: Kurt Ludwick <KEL111@psuvm.psu.edu>
  4. Message-ID: <92324.222213KEL111@psuvm.psu.edu>
  5. Newsgroups: alt.fan.dan-quayle
  6. Subject: Re: Actual Dan Quayle Interview
  7. Distribution: world
  8. References: <D2150056.i7lnpj@erics.infoserv.com>
  9.  <92317.211208KEL111@psuvm.psu.edu> <1e1ap8INN4f9@fido.asd.sgi.com>
  10. Lines: 59
  11.  
  12. In article <1e1ap8INN4f9@fido.asd.sgi.com>, coolidge@speaker.wpd.sgi.com (Don
  13. Coolidge) says:
  14.  
  15. >The ranks of the officially poor mushroomed. Their relative wealth
  16. >decreased greatly.
  17.  
  18. >*That* is what's shown by census data. And OMB data. And GAO data.
  19.  
  20. Can you document this?  I'd like to see it.
  21.  
  22. Anyway, reposted without permission (though I doubt the original poster
  23. would mind)...
  24.  
  25. ---------------------------------------------------------------------------
  26. There has been much discussion these days about whether the rich got richer and
  27. the poor got poorer during the Reagan years.  I have found some statistics that
  28. refute this:
  29.  
  30. From National Review:  (Stats are from CBO!)
  31. "In October the most liberal of New York Times economic writers, Sylvia Nasar,
  32. retreated from her earlier line about Reagan-Bush tax unfairness.  Drawing on
  33. new CBO research, Mrs. Nasar reported that while the overall federal tax burden
  34. remained about the same, the income-tax changes legislated during the Eighties
  35. benefitted _all_ families.
  36.  
  37. Here are the details:
  38. PERSONAL INCOME TAX RATES BY INCOME GROUP (Tax as a percentage of Income)
  39.  
  40. Quintile      Top income of bracket       1980    1992     Percent Reduction
  41.  
  42. Poorest 20%            $20,300            -0.5    -3.2            540
  43. Second 20%             $36,800             4.5     2.8            38.7
  44. Third 20%              $54,500             7.9     6.2            21.5
  45. Fourth 20%             $82,400            11.0     8.7            20.1
  46. Richest 20%               -               17.2    15.5             9.9
  47. Richest 1%            $324,100+           23.9    22.0             7.9
  48.  
  49.  
  50.  
  51. Here is some more info from the Census Bureau:
  52.  
  53. 1978 - The year Carter's first budget played out
  54. 1981 - Carter's last budget
  55. 1982 - Reagan's first budget
  56. 1989 - Reagan's last budget
  57.  
  58.                           1978         1981          1982            1989
  59. # people in poverty       24.5M       31.8M          34.4M           31.5M
  60. *Poverty went up under Carter, Down under Reagan
  61.  
  62. Real comp. per employee  $21,236     $19,806        $19,860         $21,161
  63. Measured in constant 1990 dollars
  64. --------------------------------------------------------------------------
  65.  
  66. Enjoy!
  67.  
  68. ------------
  69. Kurt Ludwick
  70. ------------
  71.