In Case You Missed This... A Couple Of Charts From David Cay Johnston... *Sigh...*

[WillyT]

The richest get richer
By David Cay Johnston - Reuters
MARCH 15, 2012

<snip>


The aftermaths of the Great Recession and the Great Depression produced sharply different changes in U.S. incomes that tell us a lot about tax and economic policy.

The 1934 economic rebound was widely shared, with strong income gains for the vast majority, the bottom 90 percent.

In 2010, we saw the opposite as the vast majority lost ground.

National income gained overall in 2010, but all of the gains were among the top 10 percent. Even within those 15.6 million households, the gains were extraordinarily concentrated among the super-rich, the top one percent of the top one percent.

Just 15,600 super-rich households pocketed an astonishing 37 percent of the entire national gain.

The different results in 1934 and 2010 show how a major shift in federal policy hurts the vast majority and benefits the super-rich.





<snip>

More: http://blogs.reuters.com/david-cay-johnston/2012/03/15/the-richest-get-richer/

[Cooley Hurd]

1. These charts should be the starting point for any economic remedies considered....

[think]

2. Tell me again why the Bush tax cuts were extended /nt

[varelse]

3. this cannot be repeated enough

it should be one of the hottest topics on this progressive board.

[progressoid]

4. Golly look when it all started to happen.

These fuckers:

[judesedit]

5. Puke

[WillyT]

6. Kick !!!

:kick:

[girl gone mad]

7. This was by design.

The bailouts and succeeding economic policies were specifically tailored to meet the desires of the oligarchs.

[Tennessee Gal]

8. This part is right on point:

Government policy can change again and for the better. We can create a growing economy with widely shared prosperity.

We need to increase spending on education and research to maximize returns from human capital. We need to create jobs rebuilding our decaying infrastructure so people and goods move efficiently. We need to honor markets, letting mismanaged banks and insurers receive their just desserts in U.S. Bankruptcy Court.

We need to adjust our focus away from financial sector profits to people. We need to reform taxes to discourage capital withdrawals and offshoring and, instead, encourage reinvestment of profits at home.

If we don’t, the vast majority will see their incomes go on eroding slowly while those at the top enjoy an ever-larger share of national income and wealth. The inevitable result will be economic, political and social instability – not a pretty picture for anyone.

[WillyT]

9. Exactly !!! - Spot On !!!