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The place where the world comes together in honesty and mirth.
Windmills Tilted, Scared Cows Butchered, Lies Skewered on the Lance of Reality ... or something to that effect.


Wednesday, July 21, 2010

The robber barons are back ...

Consider: in 1928 the richest 1 percent of Americans received 23.9 percent of the nation's total income. After that, the share going to the richest 1 percent steadily declined. New Deal reforms, followed by World War II, the GI Bill and the Great Society expanded the circle of prosperity. By the late 1970s the top 1 percent raked in only 8 to 9 percent of America's total annual income. But after that, inequality began to widen again, and income re-concentrated at the top. By 2007 the richest 1 percent were back to where they were in 1928—with 23.5 percent of the total.
   -- Robert Reich in Unjust Spoils, The Nation, July 19, 2010

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