Budget discussion falls silent on tax rates of the rich

By RYAN LANCASTER

Staff Reporter

Both Democrats and Republicans are leaving one important element out of the emotionally charged budget discussion now taking place, namely that our nation is far from broke.

A report issued last fall by the Credit Suisse Research Institute revealed that overall individual wealth in the United States has risen 23 percent since 2000, to $236,213 per adult. That money isn't evenly divided among us, of course. If it were I'd be able to afford a more comfortable office chair.

In reality, the richest 1 percent of Americans now own nearly 36 percent of all private wea...