It's the Inequality, Stupid!
Submitted by DrSteveB on August 14, 2009 - 10:36Crossposted 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.