Over the past 35 years the income earned by the top 1 percent has grown from 10 to 20 percent of household income. This fact, as everyone knows, has caused enormous consternation on the left.
But here is what we havent been told. If we taxed away all of that increase and divided it up among all the other families it would amount to only $7,105 per household each year. To put that in perspective, the average wage gap between a family of two college graduates and a family of two high school graduates grew to $30,000 over the same period of time.
In other words, not going to college appears to be four times more important than anything that could be gained by taxing the rich for people in the lower half of the income distribution.