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pampango

(24,692 posts)

4. Great point. In the last 40 years the US has diverged from Europe in terms of the 1%'s take of

Sat May 10, 2014, 10:07 AM

May 2014

the total gain in income.

In the U.S., about 47 per cent of total growth went to the wealthiest one per cent between 1975 and 2007, compared to 37 per cent in Canada, while in Australia and the U.K., about 20 per cent of growth went to the wealthiest.

In Nordic countries (Norway, Sweden, Finland, Denmark, Iceland) and in France, Italy, Portugal and Spain, about 90 per cent of growth went to the 99 per cent of middle and low-income earners in the same period.

Larry Summers, who was secretary of the treasury under Bill Clinton and is now a Harvard professor, has pointed out how [the constant push for tax cuts and the erosion of union bargaining rights has led to greater income inequality.

The study calls for higher marginal tax rates and fewer tax deductions and credits aimed at high income earners. It also advocates wealth or inheritance taxes.

http://www.cbc.ca/news/business/top-1-taking-lion-s-share-of-global-growth-oecd-says-1.2627154

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Since 2000 my wages have been stagnant [View all] edhopper May 2014 OP

My wife works in the grocery business gelsdorf May 2014 #1

I'd say you are typical of what's left of the middle class. Lasher May 2014 #2

Great point. In the last 40 years the US has diverged from Europe in terms of the 1%'s take of pampango May 2014 #4

And yet this thread will sink like a stone. Lasher May 2014 #6

That is because people can't connect it nadinbrzezinski May 2014 #8

I've had raises SevenSixtyTwo May 2014 #3

I don't think you are typical at all KentuckyWoman May 2014 #5

Good post - I'd have to agree. n/t myrna minx May 2014 #7

I had a real life discussion with a couple of friends about this just today Fumesucker May 2014 #27

A cartonn of milk htat cost about $1.50 htree or four years ago is now round $3 Armstead May 2014 #9

And canned vegetables... awoke_in_2003 May 2014 #17

Price of comic books karadax May 2014 #39

Most of the books from edhopper May 2014 #40

On healthcare costs edhopper May 2014 #10

Same here A Little Weird May 2014 #11

And the cost increases come at you in all sorts of little ways. dgauss May 2014 #12

Not a necessity, edhopper May 2014 #20

K&R times 1000. nt riderinthestorm May 2014 #13

Husband laid off in 2010 at age 59. Six months LibDemAlways May 2014 #14

I did not include that since I have no college age children edhopper May 2014 #21

No kidding. My tuition at a state LibDemAlways May 2014 #24

I think I paid bout $500 edhopper May 2014 #25

^ nationalize the fed May 2014 #15

The propaganda would have you believe that... Helen Borg May 2014 #16

I don't want to talk about myself too much edhopper May 2014 #22

Mine have declined and all the rest of WhiteTara May 2014 #18

DU Rec for the OP and the conversation and the links. Real People discussing Real Life. Tuesday Afternoon May 2014 #19

sadly, that means you're doing well ... magical thyme May 2014 #23

In the 90s I got edhopper May 2014 #26

Wages were stagnant too abelenkpe May 2014 #28

3 years ago... 3catwoman3 May 2014 #29

Try 1980's HockeyMom May 2014 #30

Seems like sanctions have been placed on workers. We tighten our budget and hope to make it to Thinkingabout May 2014 #31

The 401K as a pension replacement edhopper May 2014 #38

My wages have gone up... GReedDiamond May 2014 #32

k&r n/t RainDog May 2014 #33

Yep. Me too. progressoid May 2014 #34

Our household income is one-half our 2000 level. lumberjack_jeff May 2014 #35

Same here Puzzledtraveller May 2014 #36

I guess my 22 year old nephew is lucky. Jenoch May 2014 #37

Yes, he is. Orrex May 2014 #41