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Response to WillyT (Original post)

Fri Jun 1, 2012, 12:55 PM

22. Income inequality is what's dragging this economy down

It's why the recovery has been so slow: the middle class, which ought to be the engine of economic growth, simply does not have enough gas in the tank to turn around after a recession, especially after 30 years of stagnating wages that have only been compensated for by debt (which does not work in the long run) and by women working more hours outside the home.

Progressives and Democrats have done a poor job of telling this story.

"It is no accident that the periods in which the broadest cross sections of Americans have reported higher net incomes—when inequality has been reduced, partly as a result of progressive taxation—have been the periods in which the U.S. economy has grown the fastest."

It is a compelling story, mainly because it's true. If you contrast the facts of the case with the Republican "argument," a univariate analysis wherein the top marginal tax rate wholly determines economic growth, a story already falsified by the laboratory of history, it could help to get us back on track to creating a new majority Democratic coalition, the likes of which we have not seen since the Johnson administration.

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Replies to this discussion thread
Arrow 32 replies Author Time Post
WillyT May 2012 OP
Egalitarian Thug May 2012 #1
nashville_brook May 2012 #2
sendero Jun 2012 #15
malaise May 2012 #3
pscot May 2012 #4
Doctor_J May 2012 #5
WillyT May 2012 #6
pinboy3niner May 2012 #10
canuckledragger Jun 2012 #24
HiPointDem May 2012 #8
AnotherMcIntosh Jun 2012 #14
WillyT May 2012 #7
hifiguy May 2012 #9
Poiuyt May 2012 #11
davekriss May 2012 #12
Zalatix May 2012 #13
Waiting For Everyman Jun 2012 #16
cbrer Jun 2012 #17
xchrom Jun 2012 #18
sinkingfeeling Jun 2012 #19
raouldukelives Jun 2012 #20
JDPriestly Jun 2012 #27
raouldukelives Jun 2012 #30
JDPriestly Jun 2012 #31
nxylas Jun 2012 #21
JDPriestly Jun 2012 #26
LineReply Income inequality is what's dragging this economy down
Alcibiades Jun 2012 #22
Uncle Joe Jun 2012 #23
JDPriestly Jun 2012 #25
DonCoquixote Jun 2012 #28
magical thyme Jun 2012 #29
barbtries Jun 2012 #32
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