General Discussion

Fire Walk With Me

(38,893 posts)

6. The 1% Gets 93% Of The Nation's Growth From The Recovery

Fri May 18, 2012, 05:06 PM

May 2012

http://articles.businessinsider.com/2012-03-09/news/31138748_1_income-growth-incomes-rise-economic-recovery

We were recently heartened by news that unemployment had reached its lowest point in the last four years.

Until we saw this recent study cited in The Wall Street Journal.

University of California at Berkeley economics professor Emmanuel Saez analyzed the income gains and losses of the 1% over the last two economic growth periods and recessions.

And … yikes. From 2009-2010, the 1% captured 93% of the income growth. Seriously. 93%.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

14 replies

= new reply since forum marked as read

Highlight:

'It's a war between people and capitalism' [View all] marmar May 2012 OP

Capitalism defeated Communism in Soviet Russia Fire Walk With Me May 2012 #1

n/t BOG PERSON May 2012 #2

The 1% Gets 93% Of The Nation's Growth From The Recovery Fire Walk With Me May 2012 #6

+31,687 Angry Dragon May 2012 #3

Priceless. marmar May 2012 #4

Franny Liebowitz TomClash May 2012 #12

Thank you! Fire Walk With Me May 2012 #13

same as it ever was n/t RainDog May 2012 #5

The birthplace of democracy... kentuck May 2012 #7

It could restore the Spartan form of government FarCenter May 2012 #8

Hence, the phrase... kentuck May 2012 #10

Sparta was controlled by kings and an oligarchy FarCenter May 2012 #14

I thought that was what the IMF was doing........ socialist_n_TN May 2012 #11

k&r Starry Messenger May 2012 #9