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In 1985, the top five percent of the households - the wealthiest five percent - had net worth of $8 trillion - which is a lot. Today, after serial bubble after serial bubble, the top five per cent have net worth of $40 trillion. The top five percent have gained more wealth than the whole human race had created prior to 1980.

David Stockman

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David Stockman
Age: 78
Born: 1946
Born: November 10
Businessperson
Former Director Of The Office Of Management And Budget
Politician
Fort Hood
Texas
David Alan Stockman
Humans
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Percent
Prior
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Cent
Race
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More quotes by David Stockman

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We need a wealth tax that on a one-time basis is going to take back at least some small fraction of the great windfall that the upper 1 percent, or 5 percent and pay down the government debt, pay back the federal debt because we can't put this on the next generation or they're going to be buried paying taxes.
David Stockman
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I think the stock market is a very dangerous place to be at the present time. In fact, the stock market today is almost identical to where it was in October 2007 and then there was a $7 trillion crash and before that in March 2000.
David Stockman
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I'm just not going to spend a lot of political capital solving some other guy's problem in 2010.
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The Ryan plan isn't a budget. It's the last will and testament of the Republican party.
David Stockman
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Main Street has too much debt already. It is simply a bonanza for speculators who can borrow the overnight money and then buy something that they can speculate on.
David Stockman
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I invest in anything that Bernanke can't destroy, including gold, canned beans, bottled water and flashlight batteries.
David Stockman
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Kemp-Roth was always a Trojan horse to bring down the top rate.
David Stockman
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Insanity has infected all the central banks of the world.
David Stockman
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One thing is certain. At some point global investors will lose confidence in our (U.S.) easy dollars and debt-financed prosperity, and then the chickens will come home to roost.
David Stockman
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It's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory.
David Stockman