I know the Democrat party manages to dream up a scapegoat mantra for every election. The Left will have to come up with ever more ideas for coming elections.
How do they continue to get such ideas on soaking the rich as scapegoats, unless they hide the following evidence as they never did before?
Consumer spending represents to thirds of all goods and services produced in the country. GDP/ Moody’s Analytics says the topmost 5% by income represent 37% of all outlays. (The top 10% probably account for about 50%) The bottom 80% reflects only 39.5%.
So, you if soak the rich with taxes, you cut back on important consumer spending. But you do get wonderful campaign demagoguery with which to wow the unintelligent masses.
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