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The Vanishing Middle ClassPrejudice and Power in a Dual Economy$
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Peter Temin

Print publication date: 2017

Print ISBN-13: 9780262036160

Published to MIT Press Scholarship Online: January 2018

DOI: 10.7551/mitpress/9780262036160.001.0001

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Preferences of the Very Rich

Preferences of the Very Rich

Chapter:
(p.77) 7 Preferences of the Very Rich
Source:
The Vanishing Middle Class
Author(s):

Peter Temin

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262036160.003.0007

This chapter surveys the political views of the top one percent of the population, the top one percent of the top one percent, and the top one percent of the top one percent of the top one percent. The higher people are in the income distribution, the more they want taxes to be low and the federal debt to be reduced. The richer they are, the less they favor income redistribution, education, infrastructure investment and universal health care. They may like some policies in the abstract, but they do not support these policies if they require increased taxes or deficit. The Koch brothers formed a secret organization, the Kochtopus, after the Powell Memo to support the political aims of the very rich.

Keywords:   One percent, Koch brothers, income redistribution, federal debt, Powell memo, Kochtopus

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