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Precarious percentages


Bill Burton December 28th, 2011

In response to professor Kurt Hochenauer’s commentary (“The 99 percent,” Dec. 14, Oklahoma Gazette), he misrepresents the facts.

The Congressional Budget Office numbers he mentioned (income of top 1 percent increased by 275 percent) represents the period from 1979 to 2007, a period of time before the current recession started. This is not “the past three decades,” but, in fact, are the three decades between 1979 and 2007.

—Bill Burton
Oklahoma City

Oklahoma Gazette provides an open forum for the discussion of all points of view in its Letters to the Editor section. The Gazette reserves the right to edit letters for length and clarity. Letters can be mailed, faxed, emailed to pbacharach@okgazette.com or sent online at okgazette.com, but include a city of residence and contact number for verification.
 
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12.28.2011 at 06:49 Reply

So, you're telling me that the CBO has numbers reaching into 2011?  If so, why aren't you listing them?

Kurt probably listed the numbers that he had access too.  So the safe assumption is that since you've shown no conflicting data, then you too were unable to acquire newer data.

I think we both know that even if the incease seen by the top 1% is marginal over the past 4 years, it's not consistent with the income increases (which were more likely decreases) in middle and low income households.  And the 1% undoubtedly had it's income increased in the last 4 years.

But by all means, show me more current numbers, and I'll gladly see your point of view.  But be sure to show me where I can go to confirm your findings.

However, assuming there was more current data, and you were aware of it, the absence of that data implies that it runs contrary to the point you are attempting to make.  Therefore, you omitted it intentionally to spin this to your perspective.  How very FOX newsian of you.

Moreover, the same CBO report lists that for the same time span the income of the top 20 percent only rose 65% and the income of the poorest Americans only rose 18%.  Your implication is that in the 4 years omitted by Mr. Hochenauer there was some level of great equality dropped on the top 1%, and they are now reduced to earning a mear 65% more than what they would have earned in 1979.  This is an egregious lie and attempt at contortion of truth.

But again, I must reiterate, if you want anyone to see your point of view, show us the proof!

 

 
 
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