Saez' 2010 Inequality

lun, 03/05/2012 - 15:06 - Augustin

Commentaires

#1

Augustin - 03/05/2012 - 15:11

"Over 90% of the income gains in the first year of the recovery
went to the top 1%"

Rich people benefit from economic crisis. They get land, property, whole businesses at bargain prices and set themselves up to make HUGE profits once the economy picks up again!!

One could be forgiven to think that the top 1% are engineering economic crises in order to rake in profits.

In any case, whether downturn of up-tick, the workers lose anyway.

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“Saez suggests that this ‘may … help explain why the dramatic growth in top incomes during the Clinton administration did not generate much public outcry while there has been a great level of attention to top incomes in the press and in the public debate since 2005.’”

Yes: when every body's income increases, the underlying injustice is hidden and working people do not notice that the income of the top 1% in increasing at a much faster pace!