Saturday, October 06, 2012

Change In Aggregate Income

The chart above (from Bloomberg News) show the change in the percentage of this nation's aggregate income experienced by the different segments of society since the 1960's. Note that since "trickle-down" economic policy kicked in in the 1980's, the top 20% (and especially the top 5%) have seen their share of income grow by quite a bit. But they are the only ones that have experienced growth in their share of the economic pie.

All of the bottom four quintiles (the bottom 80%) have seen their share of the nation's aggregate income drop. That drop has been about 20% for the bottom quintile (the poorest people, who didn't have much of a share to begin with. The result of all this? A much larger gap between the richest Americans and the rest of America. This needs to be fixed, since it means that at least 80% of Americans are no longer sharing in the nation's rising productivity.

The Republicans think this is fair (and would give the rich an even bigger share). Do you think it's fair? If not, then you need to vote against every Republican on your ballot this November.

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