Political and cultural commentary based on a world view shaped by the works of Plato, Aristotle, Confucius, Averroes, Maimonides, Spinoza, Kant, Hegel, Marx, Sartre
and Bertrand Russell
"What is the use of studying philosophy if all that it does for you is to enable you to talk with some plausibility about some abstruse questions of logic, etc., and if it does not improve your thinking about the important questions of everyday life, if it does not make you more conscientious."-Wittgenstein
Thursday, September 24, 2015
Great Gains for the Rich
According to the Economic Policy Institute, as reported by the Debs Foundation Newsletter (Fall 2015), the following figures represent the real increase in income of the various levels of the U.S. population over the last 30 years: both Democrats and Republicans have controlled the government during this period.
The top 1% saw an increase of 153.6%
The next level, the 95 to 99% increased their income by 61.6%
Then the 90 through 94% went up 39.2%
That takes care of the top 90%. The super winners were the top 1%.
Now for the rest of us -- the bottom 90%: how much trickled down to us?
We got a wopping 17.2% increase in real income over the last 30 years no matter who was running the country. Is there any reason to think this disparity will be any less (or maybe more) over the next 30 years?