inequality

It's the Inequality, Stupid!

Crossposted at DKos. Graphs there are in wider format.


Updated numbers and commentary from Emmanuel Saez (h/t Krugman) reminds us just how bad things are and have been for a while.  One might hope that the current economic crisis does not divert our attention from the longer term issues.  


I would argue that pretty much all of our problems and issues, be it health care, education, environment, collapsing public infrastructure, jobs, trade, taxes, and yes right-wing populism can be directly linked to income and wealth inequality.  And the fact that inequality has gotten MUCH MUCH worse ever since 1979-1980 (I suggest looking up who became president in the United States at that time):



 


On the one hand, it is not just a U.S. story. Income inequality has risen throughout the developed world, according the OECD.

Duh

Maybe it’s simply a case that the rich don’t get it. Never have, never will. Well, the born rich, at least. People like David Frum, whose father made millions in real estate and whose mother was successful in journalism, now Frum’s own field. People who, as Jim Hightower once described George Bush 41, were born on third base and think they’ve hit a triple.