Tuesday, April 28, 2009
"There's nothin' surer . . ." *
As a not-quite-identical follow up to this, we have updated information on income inequality. (Follow through the imbedded links to this.)
The top 1% have been the only big gainers since about 1980, and are now, having really raked it in since 2002, once again at 1928-29 levels. Let's see -- what happened in 1980 . . . (?)
And what happened in 1929?
You don't have to be a pinko commie, or even much of a socialist to realize that this kind of unbalance is bad for society. It leads to disruption, possibly to depressions, and, as a worst case, armed revolution. Not much likelihood of that, though, since all the rabid talk is coming from the right, where all they want is another freaquin' tax cut.
* AIN'T WE GOT FUN from 1920 (Richard Whiting / Gus Kahn / Raymond S. Egan)