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Stuart Debunks Economic Myths
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Description
FBN’s Stuart Varney breaks down the economics surrounding the middle class.
- Duration 1:17
- Date Aug 7, 2012
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Transcript
This transcript is automatically generated
-- everybody here's my take dominant conventional wisdom until want the middle class is getting screw it up as Joseph Biden put it it is shrinking it's in decline.
Wrong says the leftist Brookings Institution a whole people stopped when chip points to government figures showing the income of the middle fifth of wage and -- went up.
On one -- since 1979.
I -- to.
The rich are not paying that fact shaft well -- -- we can argue all day about that but try this again from the government the CBO.
Of all the tax money collected the Baltimore 15 of -- contributes just point 3%.
The top fifth.
67 point 9%.
Last one social mobility is in decline in the -- est -- the American dream is dying not so fast.
As a Democrat think -- -- way Jim Kessler says income is like it escalates out of your lifetime you go up you go down.
60%.
Of those who -- out in the bottom fifth -- jumped off the bottom within ten years the mall here is very simple.
Conventional wisdom is being exploited and -- voted for political purposes.
