Long Division in American Politics – the money trail

The Daily Shpw 01/24/2012A recent John Stewart Daily Show that explored Mitt Romney’s recent release of income tax data got me to thinking about long division.

Romney’s income of roughly $22 million per year is so large that it kind of disappears into the haze of too much information. But, get out your pencil and divide that by 365 days to discover that his income is $60,000 per day. That is slightly over $10,000 more than the median family income in the US. 2010 = $49,455.

Then, I thought about corporate money in government. In 2011, $3.27 billion dollars was reported officially as expenditures on lobbying in Washington.  Again with the long division, that is $6.1 million per member of Congress. Remember this is lobbying dollars, not the super pac money or all of the campaign contributions Congress people spend most of their time soliciting. Or, to divide the $3.27 billion by the number of officially registered lobbyists in Washington, 12,592, this gives each of them $260,000 to divide between pay and payola. 

Do some of your own long division. 

Charts from Mother Jones Illustrate That the Rich Have Won the Class War

I came on a set of graphics in Mother Jones, “It’s the Inequality, Stupid: Eleven charts that explain what’s wrong with America” that illustrate what you probably already know. But, a simple refresher course in some of the reasons why the rich are rich. The 99% already have this base covered.

Here are some of the charts I liked. Read the whole article at the Mother Jones website.

Income (constant dollars)

Note that if median family income had simply kept up with inflation over this period it would have grown to $92,000 instead of $50,000.

Change in income-since-1979-2010

 

 

 

 

 

 

 

 

 

 

 

 

Are Corporations Over Taxed?

Mother Jones does not make it clear that the Payroll Tax is also a tax on individuals. To add insult to injury the Payroll Tax is not levied beyond the first %106,800 of income.

Share of Federal Tax Revenue - Mother Jones

 

 

 

 

 

 

 

 

 

 

 

 

 

How Are The Richest of the Rich Doing?

Top Incomes asTax Payers - Mother Jones