Where’s the beef? Oh.

I’ve dropped a few comments into a thread over at The Center Square touching on the matter of income inequality. So it’s somewhat serendipitous that I just saw  new data on the subject:

The gap between the wealthiest Americans and middle- and working-class Americans has more than tripled in the past three decades, according to a June 25 report by the Center on Budget and Policy Priorities.

New data show that the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest parts of the population in 2007 was the highest it’s been in 80 years, while the share of income going to the middle one-fifth of Americans shrank to its lowest level ever.

At Crooks and Liars, I picked up this chart from the published CBPP report. It’s stunning really. It only measures one decade, but the direction is pretty clear. And this is before the Bush tax cuts that mostly benefitted the top 1%. (I’m sure they thought that was really decent of him!)

6 responses to “Where’s the beef? Oh.

  1. At the risk of sounding prescient, I told my kids this was going to happen 35 years ago. It’s not a surprise. There are other factors in play here for the latest years…unemployment and especially declining education standards. The gap between truly and marginally educated also keeps increasing. Give up the standardized tests and start educating again.

    Like

  2. In the report it gets better. Last thirty years the top 1% almost tripled their income – and the middle fifth of the population raised a little quarter.

    The rich stealing from the poor – and grabbing an ever bigger portion of the growth. I’ll repeat this over and over till the day I die.

    Like

    • It’s not like this is the first study to point it out. You and I know it’s as clear as the nose on the late Karl Malden’s face. (always liked him)

      But when we have CNN – and here’s where I go all broken-record – that can’t get beyond ‘some say the sun rose today’ and ‘some say the sun didn’t rise today’, people will toddle along in ignorance of what’s being done to them.

      Like

      • Exactly. They’re just crap. Gimme Hardball.

        Like

      • And just now. That Candy-woman. She’s f**ing repeating all the rightwing a**hole stuff in talks with Axelrod.. Is she trying to pretend that that is a “neutral” role in society? “I have no meaning myself – but I’ll fight you anyhow, with wingjob nutcase partisan arguments.” Doesn’t she understand anything?? Shame on her.

        Now for some more coffee..

        Like

        • Ditto. Ditto. And Ditto. On Sunday, I avoid CNN except for Zacharia. And by the way, why do they all keep having Axelrod and Gibbs on? Gibbs
          job is to spin info, Axelrod’s job is to keep info close to the vest. But they keep being gold star Sunday ‘gets’ and we learn nothing, absolutely nothing.

          Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s