The income distribution - is this reverse socialism?
Since there is talk of socialism and redistribution of wealth and income every day on these boards, I was surprised that no one posted a link to this article yesterday.
Among the findings:
The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years.
In a separate analysis, Saez found the top 1% of earnings posted 86% real income growth between 1993 and 2000. Meanwhile, the real income growth of the bottom 99% of earnings rose 6.6%.
There is also a great video of the current status of the distribution of wealth at http://www.youtube.com/watch?v=QPKKQnijnsM
Seems like reverse socialism is going on, even under this administration. Do any of you know how much more income and wealth these job creators need before they will create jobs? Is it possible that this real redistribution, which has occurred for the last 30 years, is bad for our economy?