Time to raise taxes on the rich

According to new data released by the U.S. Census Bureau this week, median household incomes adjusted for inflation declined by 2.3% in 2010 over the previous year. The data also showed that 46.2 million Americans lived in poverty in 2010 — the highest number in the 52 years the Census Bureau has been tracking such data. But that data is even more depressing in contrast to the skyrocketing fortunes of America’s super-rich.