Friday, January 25, 2013

Apparently, us middle-class folk are doing just fine

From the Carpe Diem blog:

"Bottom Line: Despite assertions by progressives who complain about stagnant wages, inequality and the (always) disappearing middle class, middle-class Americans have more buying power than ever before. They live longer lives and have much greater access to the services and consumer products bought by billionaires."

Full post is here.

1 comment:

  1. Right. Let's all drink the AEI kool aid. The reality is, in 1975 our U.S. 99% possessed 80% of the wealth. Today, the 99% possess just 64%. Where did all that wealth go? It TRICKLED UP to the 1%. The middle-class is being decimated by the 1% class (which has shrunk 16% since 1980), and the mechanics of this decimation is built into U.S. fiscal policy, which is created by lawmakers who are effectively on the payroll ... of the 1% class (the Yale study more or less proves this). What changed after 1975 that allowed the 1% to suck out a huge amount of 99% wealth, and continues to suck out 99% wealth? Fiscal policy. Before 1975, ALL American's paid a progressive tax. Today, the 99% pay a progressive tax, but the 1% pay a REGRESSIVE tax. We must return to a 100% progressive tax policy, or our middle class is gone, along with our middle-class foundation and, frankly, our personal liberties -- sacrificed to the growing power of oligarchs and plutocrats.