Wednesday, July 22, 2009
... for what it's worth [update/edit]
Since 1979 (previous post's starting point), 95th %-ile of household income has increased by 78% (thru 2006).
During the same time, GDP increased by 225%.
Who's getting the $$$???
- the upper 1%!!!
update/edit: why 1979 as base year? My suspicion is that this year was chosen to illustrate St. Reagan's legacy.
Yeah, a rising tide lifts all boats... but the really fancy boats seem to be raised a whole lot more than the dinghies!
Though I'm not an economist, I suspect that Reagan's tax-cuts & 'trickle-down' economic theory can legitimately be cited as the cause of the widening gap 'tween rich folks & the rest of us.