Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsReality Check
It all began in the 1970s, thats when everything started going down the plughole. Once wages detached from productivity, the rich progressively got richer. They used their wealth to reduce taxes on capital, role back critical regulations, break up the unions, install their own lapdog politicians, push through trade agreements that pitted US workers against low-paid labor in the developing world, and induce their shady Central Bank buddies to keep interest rates locked below the rate of inflation so they could cream hefty profits off gigantic asset bubbles. Now, 40 years later, they own the whole f*cking shooting match, lock, stock and barrel. And its all because management decided to take the lions share of productivity gains which threw the whole system off-kilter undermining the basic pillars of democratic government.
Yup, under Bush, the 1% captured a disproportionate share of the income gains from the Bush boom of 2002-2007. They got 65 cents of every dollar created in that boom, up 20 cents from when Clinton was President. Under Obama, the 1% got 93 cents of every dollar created in that boom. Thats not only more than under Bush, up 28 cents. In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush. Obama accelerated the growth of inequality.
The blue line across the bottom of the graph represents the wealth of the bottom 90% of U.S. households.
Graph: Compensation of Employees, Received: Wage and Salary Disbursements/Gross Domestic Product
So, is America in the throes of a class war or not?
Indeed, it is. But only one side is fighting.
Indeed, it is. But only one side is fighting.
http://www.counterpunch.org/2015/01/15/40-years-of-economic-policy-in-one-chart/
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
8 replies, 1119 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (8)
ReplyReply to this post
8 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Reality Check (Original Post)
Teamster Jeff
Feb 2015
OP
"Dems lose because we don't defend what the government can do"--funny how they always mention
MisterP
Feb 2015
#5
They do not own Obama or his House or an actual good idea, and never will again, so the pendulum can be swung back.
Fred Sanders
Feb 2015
#3
"The comfort of the rich relies on an abundance of the poor." Voltaire
Tierra_y_Libertad
Feb 2015
#6
KG
(28,752 posts)1. oh, c'mon. NAFTA was a godsend. and TPP will be nirvana!
Teamster Jeff
(1,598 posts)2. Yes! Viet Nam's minimum wage will be increased to $150 a month!!
MisterP
(23,730 posts)5. "Dems lose because we don't defend what the government can do"--funny how they always mention
free trade agreements and tax cuts more than SS or Medicare ...
woo me with science
(32,139 posts)8. Lying propagandists.
If it's Blue, it must be good!
Fred Sanders
(23,946 posts)3. They do not own Obama or his House or an actual good idea, and never will again, so the pendulum can be swung back.
marym625
(17,997 posts)4. I want to live in their reality
Not ours. No one said life was fair but jesus christ on a cheese sandwich! This reality bites
K&R!
Tierra_y_Libertad
(50,414 posts)6. "The comfort of the rich relies on an abundance of the poor." Voltaire
woo me with science
(32,139 posts)7. Kick. This needs to stay on top
to counter the drumbeat propaganda narrative.
Some other very important threads on DU right now:
Wall Street Pays Bankers to Work in Government and It Doesn't Want Anyone to Know
http://www.democraticunderground.com/10026192620
Why did Obama's Justice Department recently argue AGAINST Don Siegelman's release from prison?
http://www.democraticunderground.com/10026194492
New York legislators consider making resisting arrest a felony.
http://www.democraticunderground.com/10026193731
In latest vindication of Snowden, UK court rules mass surveillance illegal
http://www.democraticunderground.com/10026190290