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The American French Revolution



             If I didn't knew Myers' background while reading this article, I would do the same as most students and ignore this article completely, but since Myers is a contributing editor for Vanity Fair and served as the White House press secretary for two years under the Clinton administration, she knows a thing or two about government and economics. With this kind of background she has the right to say whatever she wants about our economy, as long as she can support it. Her first claim that the economic gap between the rich and the poor is increasing is supported by her research over the tax breaks and lower tax rates that make the top one percent even wealthier while the bottom 90 percent struggle to make the monthly payments. Myers claims this by saying that the "top one percent of Americans now take home nearly a quarter of all income and control more than 40 percent of all wealth". According to Edward N. Wolff, an economist at New York University, the number of wealth controlled by the top one percent has increased to one third of the country's net wealth. Some may argue that this is a direct result of tax policies during the Bush administration as Myers writes. The top earning Americans saw their tax rates decrease from 30 percent in 1995 to 17 percent in 2007. Although I can understand why the wealthiest people don't want to pay more taxes for their success, but it seems a little unfair that wealthy people complain about how they only made two million dollars last year instead of three, while the rest of us have to worry about not getting sick because we can't afford it. This concept has sparked many movements across the country (like the 99 Percent Movement), and this will surely grab The Shorthorn's readers attention, since we are college students and money is one of our higher priorities in life right now.
             I think that Myers feels angry towards wealthy people that don't want to do a little more to help their own country.


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