Wall Street Journal Gets It Wrong
As we would expect the instrument of the wealthy and voice of the privileged known commonly as The Wall Street Journal is attempting to spread misinformation about our progressive measures 66 and 67. Unfortunately for the Journal the poor treatment and misleading “evidence” presented in the editorial only serve to demonstrate just how bad the current economic crisis is. It’s not that wealthy Oregonians are leaving the state to avoid the new-and might I add long overdue progressive tax rate-but that more people are making less money. Those who used to qualify for this tax bracket are seeing their incomes fall because the recession is worse than anyone wants to admit. The hardest hit group being those who in recent years relied on capital gains for a significant portion of their income shows how encompassing the nature of the crisis we are in really is.
Fewer families making more that $500,000 annually does not prove flight of the wealthy but what we have been arguing all along-the economy only works for the super rich. If hard times have come to the upper middle class how do they think everyone below them is doing?
While these measures are a start to correcting the horrible economic wrongs that exist in our society they are just a beginning. We must continue to move toward real change that will make a difference for all working people
For a better description and more comprehensive analysis of the WSJ article check out the links below.
In Solidarity
Wesley Buchholz
http://www.blueoregon.com/2010/12/facts-and-logic-go-missing-again-wall-street-journal-editorial/
http://www.itepnet.org/pdf/or_wsjmigration_1210.pdf