31–40 of 157 posts
1% real income growth per year is still fairly substantial IMO. Over a 41 year career, your purchasing power goes up by half, yet that's treated as "stagnating" which implies something far worse than 1% per year.
Not if inflation is 3-4% per year.
The title and the tone of the OP are a bit inflammatory for my taste, but the data and graphs from the research paper are eye-opening: most economic growth in the US over the past three decades has indeed gone to the top 1%, and particularly to the top 0.01%, leaving everyone else behind.[1] Here's the money shot: https://cdn.vox-cdn.com/uploads/chorus_asset/file/9013427/Sc... However, rather than debate the causes o…
Apple made $700k per employee in a single quarter.
Our whole economy is set up to funnel money to the top. We need a new way of structuring corporations to change that.
The title and the tone of the OP are a bit inflammatory for my taste, but the data and graphs from the research paper are eye-opening: most economic growth in the US over the past three decades has indeed gone to the top 1%, and particularly to the top 0.01%, leaving everyone else behind.[1] Here's the money shot: https://cdn.vox-cdn.com/uploads/chorus_asset/file/9013427/Sc... However, rather than debate the causes o…
This quote by the fed chairman during the Great Depression, Marriner S. Eccles, seems apt "As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth -- not of existing wealth, but of wealth as it is currently produced -- to provide men with buying power equal to the amount of goods and services offered by the nation's economic machinery. Instead of achie…
People who buy this garbage have no perspective of how much the federal government taxes and spends. Everything discussed here is insignificant in the scope of the federal agencies spending $11 billion a day. Personal incomes are less than their rounding errors.
Why is there no talk about the dramatic increase in the supply of workers over the last 40 years? Globalization has brought millions out of poverty and those people are now competing with Americans when they wouldn't before. It makes sense from an economic standpoint that the price of labor would not rise when the supply is increased and is likely the cause of income inequality in the US.
Why is there no talk about the dramatic increase in the supply of workers over the last 40 years? Globalization has brought millions out of poverty and those people are now competing with Americans when they wouldn't before. It makes sense from an economic standpoint that the price of labor would not rise when the supply is increased and is likely the cause of income inequality in the US.
Also "hoarding" implies intent and capability. From all I can see, what's happening is the natural consequences of lifting billions of people out of poverty.
The title and the tone of the OP are a bit inflammatory for my taste, but the data and graphs from the research paper are eye-opening: most economic growth in the US over the past three decades has indeed gone to the top 1%, and particularly to the top 0.01%, leaving everyone else behind.[1] Here's the money shot: https://cdn.vox-cdn.com/uploads/chorus_asset/file/9013427/Sc... However, rather than debate the causes o…
Raise taxes on the 0.01%, it's the only way.