Friday, July 22, 2011

The Rising Tide of Income Inequality in the U. S.

A Rising Tide That Threatens to Drown the Middle Class

A new research paper

Inequality and the Deficit

Stephen B. Cohen

documents the rising income inequality in the United States.  Here are just three critical tables from that paper.

Table 1
Table 3
Table 4

Why is this important?  Because without higher income accruing to middle income families, the increase in consumption necessary to drive investment, economic growth and lower unemployment will not take place.

And how exactly will fiscal contraction and decreases in the taxes for the wealthiest Americans and Corporations in the "Gang of Six" Plan help this problem? 

Some questions have no answers, and therefore should not be asked.

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