“IRS data compiled by Thomas Piketty, Emmanuel Saenz and their colleagues at the top incomes database shows how stark America’s shift from a broad-based prosperity model has been. From 1947 to 1973, the average incomes of the bottom 90 percent increased 99.2 percent, compared to 88.9 percent for the top 10 percent, and a mere 7.4 percent for the top 0.1 percent. But from 1973 to 2008, the average incomes of the bottom 90 percent fell 6.1 percent, while the average incomes of the top 10 percent continued rising by another 70.8 percent, and average incomes of the top 0.1 percent skyrocketed an astronomical 706.4 percent.
Paul Rosenberg, writing at Salon, is outraged that many super-wealthy people–and their apologists at the NY Times–blame poverty on the lifestyles of the poor.
“There they go again. Conservatives are back again with their “war on poverty,” which is to say, their war on poor people and any liberals, or sympathizers, who try to help them.
“Unlike Lyndon Johnson’s War on Poverty, which despite 50 years of demonization and policy reversals has cut U.S. poverty by 40 percent (see No. 3 here), the conservative version has little hope of doing anything about poverty. But that’s not the point. Neither is attacking poor people and liberals, for that matter. The point is defending the obscenely rich, and the massive upward redistribution of wealth America has seen going on since the 1970s. At the same time the broad-based increase in affluence of the early post-World War II era has been…
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