While we’re all waiting for the Iowa straw poll to finish up, here are some new income inequality charts for you to munch on. These come from a new CRS report, and the first one shows where most of us get our income. For 80% of us, the answer is: almost all of it comes from ordinary wages and salaries. We get a grand total of 0.7% of our income from dividends and capital gains.
For the top 0.1%, it’s flipped around. They get less than 20% of their income from ordinary wages and more than half from dividends and capital gains. So when Republicans eagerly insist on reducing or eliminating taxes on dividends and capital gains, this chart shows you who benefits. Most of us get nada, but the very rich benefit handsomely.