Class warfare, now a part of the current political mantra, is the cry when it comes to proposals to tax the rich at a higher rate to raise revenues. To consider any issue “warfare” assumes a serious conflict or disagreement sometimes with the intent to destroy. Paul Krugman, in an article for The New York Times, takes a look at that very subject.
Krugman points out that median income has risen 100 percent since World War II according to the Congressional Budget Office. During the period of 1979 to 2005 the median income of the middle class increased 21 percent compared to 480 percent for the top 100th of 1 percent of income distribution. Some of the disparity can be attributed to government policies, financial deregulation, and continued pressure on organized labor. In the current environment a big driver of the disparity is our tax system as it has evolved and so far the wealthy do not appear to be suffering from any form of class warfare.