Showing posts with label Wall St Journal editorial board. Show all posts
Showing posts with label Wall St Journal editorial board. Show all posts

Sunday, February 2, 2014

The American Dream still works

The Wall St Journal editors, speaking on Fox News yesterday brought up a cool US Treasury study.  Two economists, who work for the Treasury, did a ten year study of tax returns.  They found that filers in the lowest tax brackets, a full 70% of them moved up in income over the ten years.  A citizen born into the bottom of the economic ladder has a 70% chance of pulling himself up inside of ten years.  
   They also studied the "1%" that Obama has been bashing so heartily.  They found that 30% of the taxpayers in the 1% bracket, were no longer up there ten years later.   In short, the "1%"  are not guaranteed to stay there.  They have a 30% chance of slipping back down the income ladder. 
   Hmm.  70% odds of moving up from the bottom.  30% odds of slipping back from the top.  That sounds like opportunity ain't dead yet. 
   If Obama could stop screwing up the economy, so we could get some growth, things could get even better.