Friday, May 25, 2007

The rich get richer ...

In this article about the extraordinary rise in executive pay, there was this:

From 1985 to 2005, the incomes of taxpayers in the top 10th of earnings rose about 54 percent after inflation, to an average of $207,200, according to Thomas Piketty of the Paris School of Economics and Emmanuel Saez of the University of California, Berkeley. But among the top 1 percent of taxpayers it increased 128 percent, to $812,500. And among the top 0.01 percent it nearly quadrupled, to $14 million on average.

Note that the two-decade period includes Bill Clinton's years of unprecedented "prosperity." Policies do affect people. The U.S. has become a nation of haves and have-nots (ushered in by Reagan) and the Rs have done a great job of distracting many to vote against their own interests by raising "morality" issues, usually centered around sex and reproduction. But never economics; poverty, to them, is only a moral issue in that they think that those who are struggling have failed and deserve their lot in life.

Not that it matters, but for those who like to point out hypocrisy: The Jesus of the New Testament had much much more to say about economic justice and the treatment of the poor than he did about sex.

1 Comments:

Anonymous Anonymous said...

Thanks for the post. I may use that in the class I'm doing in Germany next week! If you have any other "favorites" pertinent to social inequality in the US, just let me know!

Hope all is well out your way!

7:26 AM, May 30, 2007  

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