The Trickle Up Economy - striking new stats on income inequality (Krugman, DeLong)

[swag]

From Economist's View:

Paul Krugman notes the latest inequality numbers:

Even more gilded, by Paul Krugman: With everything else going on, the latest inequality numbers from Emmanuel Saez, now updated to 2007, didn’t get much attention. But they’re truly amazing:



Brad DeLong:

That means that the top 1-10,000 <households in> ... American income distribution receives 6% of pretax household income--meaning that their average income is 600 times that of the average.

Time for a more progressive income tax, is what I am saying...

[swag]

1. Just look at that amazing transfer of wealth from the average to the wealthiest in the Bush years.

[NYC_SKP]

2. Looks like "Redistribution" to me. nt

[TheKentuckian]

3. Why do you think they cry about wealth redistribution all the time

They are the most projecting creatures in the history of time and space. When they finally go into the dustbin there never will be a group that is internally so utterly dishonest. Beings might lie to others like they do but not themselves.

[swag]

5. Point well taken.

[Joanne98]

4. Time for a tax hike.

[applegrove]

6. On the equality scale the USA is situated beside Mexico and Russia.

Russia has been a capitalist country for 20 years only. Mexico is 2/3 poor 1/3 rich.

Nothing to be proud of.

[hfojvt]

7. and wouldn't it have been nice

if Democrats had started by reversing the Bush tax cuts for the top instead of starting the healthcare riots? It might have shut down some of that squawking about the deficit too.

Oh, I know, you can't raise taxes during a recession because that would hurt the recovery and you can't raise taxes during a boom because that would cause a recession.

That Catch 22, it's one of the best.

[Quantess]

8. K & R