Wednesday, December 06, 2006

It's Good to be Rich and It's Getting Better
From a ThinkProgress link:
Actually, Krugman is completely right: things are dramatically worse now than 10 or 20 years ago. Here’s a chart from the Economic Policy Institute that tracks the ratio of the wealthiest 1 percent of Americans to median income in the United States, a standard measure of income inequality:

Krugman from the transcript at the link:
KRUGMAN: Yeah, actually, it is dramatically worse now than it was 10 years, 20 years ago. All of the measures of inequalities have just gone off the charts. It didn’t start with Bush — and I actually say that if anybody, you know, buy Rolling Stone, read the article — it actually starts even before Reagan, so this is not just Bush. The point of the matter is that, when, in these last five years, as it’s becomes clear that this is a really growing problem, that most people are not sharing in the economy’s growth, the policies of Bush have been at every point to push that inequality further.