Monday, November 9, 2015

Next Time Someone Argues For 'Trickle-Down' Economics, Show Them This

In her Huffington Post article, Kathleen Miles suggests that the "Next Time Someone Argues For 'Trickle-Down' Economics, Show Them This."

February 6, 2014

Conservatives like to say that "a rising tide lifts all boats." In other words, if an executive makes $20 million a year, his income will eventually trickle down into the rest of the economy and ultimately benefit poor people.

But that theory hasn't exactly proven true. The highest-earning 20 percent of Americans have been making more and more over the past 40 years. Yet no other boats have risen; in fact, they're sinking. Over the same 40 years, the lowest-earning 60 percent of Americans have been making less and less.

Imagine the lines below as tides. As you can see, one is rising, while the others are falling (and one is stagnant):

The chart comes from the Stanford Center on Poverty and Inequality's recently released 2014 report. The researchers looked at rising poverty and inequality in the U.S., particularly since the 2007-2008 recession.

Other studies have shown a correlation between bigger tax cuts for the 1 percent and income inequality. In the U.S., the top earners have made more money in the last 60 years as the top marginal tax rate has been slashed and as the rising dominance of Wall Street has allowed a few to make enormous profits.

An OECD study in 2013 found that the U.S. had the highest income inequality in the developed world. Out of all nations, only Chile, Mexico and Turkey had higher levels of income inequality, according to the study.

So what does this all mean in actual dollars? It means that more than half of U.S. wage earners made less than $30,000 in 2012, which is not far above the $27,010 federal poverty line for a family of five. Meanwhile, the top 10 percent of earners took more than half of the country's total income in 2012.

In other words, a rising tide has lifted a few big boats and washed the rest aside.

http://www.huffingtonpost.com/2014/02/06/rich-richer_n_4731408.html

5 comments:

  1. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    BORROWERS APPLICATION DETAILS


    1. Name Of Applicant in Full:……..
    2. Telephone Numbers:……….
    3. Address and Location:…….
    4. Amount in request………..
    5. Repayment Period:………..
    6. Purpose Of Loan………….
    7. country…………………
    8. phone…………………..
    9. occupation………………
    10.age/sex…………………
    11.Monthly Income…………..
    12.Email……………..

    Regards.
    Managements
    Email Kindly Contact: urgentloan22@gmail.com

    ReplyDelete
  2. Thanks for the informative post. I’m sure that today we live in not bad economic times. Things are quite stable and we can see many new opportunities for a working class, for example. Yes, many Americans still have financial problems and use quick and easy loan products to make ends meet but I think that we all can watch the progress and development. However, with the new President I don’t know what we should expect for.

    ReplyDelete
  3. INSPIRED CAPITAL PLC - We are a direct mandates to providers of Bank Guarantee(BG), SBLC, MT109, MT799, MT760, Loans, Sale and Lease of Financial Instruments, discounting and Heavy/light project funding. In addition, we have an excellent professional relationship with many top rated banks, stock brokers, financial institutions and consultants all over the globe.

    We have a proven track record of Excellence, Speed and Reliability. Our providers are very reliable and we offer best workable procedure.

    Accept our kindest regards as we move your business to the next level.

    We anticipate your interest.
    Email: inspiredcapitalplc@gmail.com,
    Skype: inspiredcapitalplc

    REGARDS
    Wayne Bertrand
    INSPIRED CAPITAL PLC
    BROKERS ARE WELCOME AND 100% PROTECTED

    ReplyDelete
  4. i think you have a long research on economy. That is a beauty full post i like it thanks for sharing. I like your adventure.
    airport parking Stansted

    ReplyDelete
  5. My ex-husband and I had always managed to stay friendly after our divorce in February 2017. But I always wanted to get back together with him, All it took was a visit to this spell casters website last December, because my dream was to start a new year with my husband, and live happily with him.. This spell caster requested a specific love spell for me and my husband, and I accepted it. And this powerful spell caster began to work his magic. And 48 hours after this spell caster worked for me, my husband called me back for us to be together again, and he was remorseful for all his wrong deeds. My spell is working because guess what: My “husband” is back and we are making preparations on how to go to court and withdraw our divorce papers ASAP. This is nothing short of a miracle. Thank you Dr Emu for your powerful spells. Words are not enough. here is his Email: emutemple@gmail.com or call/text him on his WhatsApp +2347012841542 

    ReplyDelete