Bad News – The Class War Continues; Worse News – The Middle and Lower Income Americans are Losing

What Conservatives Do Not Want You to Know About Class Warfare

When income distribution discussions, or the impact of tax cuts by income class arise, Conservatives dismiss the discussion with complaints that those opposed to massive tax cuts for the wealthiest Americans are just engaging in class warfare.

Well, class warfare is taking place, and the reason that Conservatives want it out of the spotlight is that the wealthy are winning major victories.  Thanks to Len Burman we have a link to the TPC analysis of the Pawlenty plan to cut taxes (and still balance the budget in 2017, but that’s a fantasy for another day).

Impact of Pawlenty Tax Plan by Income Group

The bottom line:  If you make over $1 million you get an average cut of about $490,000.  If you make between $40,000 and $50,000, you get an average cut of about $700.00.

Of course, by merely mentioning this The Dismal Political Economist can be accused of class warfare.