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These come from a recent University of California Alumni Association profile of economist Emmanuel Saez and his work that was linked to by the excellent online newsletter Too Much:

The top 1 percenters in the United States, for example, have seen their share of national income rise from under 8 percent in 1970 to just under 20 percent in 2010. A similar pattern is seen in Canada, which also adopted the same esprit de laissez-faire that made Reaganomics the hallmark of United States fiscal policy in the 1980s.

In contrast, over the same period, the top 1 percenters in Japan saw their share of national income inch up from 8 to 9.5 percent. French and Swedish plutocrats were similarly deprived. (Emphasis supplied).

Meanwhile, check out the following amazing graph of Census data that also comes from the folks at Too Much: Read More

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Inequality - long termThe good people at Inequality.org and the online publication Too Much do a great job each week of documenting America’s one-sided class warfare and the fast-mushrooming gap between the haves and have nots. If you’re not already a subscriber to their updates, click here to get signed up.

The graphic at left was featured in the most recent edition of Too Much and paints a remarkable picture of where the market fundamentalists appear bent on taking the country in the years to come.

Note: You might want to make sure that anyone you share it with this evening has a cold beverage close by to ease the pain.

 

 

 

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The huge and growing gaps in wealth and income inequality are much in the news these days — from Washington to the Vatican and here’s why: the plain facts are simply stunning and overwhelming. To see this in black and white (or, to be more accurate, red, orange and blue) click here and here to check out two new animated graphs from Chad Stone of the Center on Budget and Policy Priorities (a third one will be released shortly).

As Stone notes by way on introduction with the understated language of a crack economist:

“The economic fortunes of the wealthy and everyone else have diverged sharply in recent decades.  It wasn’t always this way; from the end of World War II into the 1970s, income growth was shared equally among all segments of the population.  But, as we’ll illustrate in three animated graphs, most of the income growth in recent decades has occurred at the very top.”

As the graphs show here and here, that’s putting it gently.

 

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Political contributionsAs this amazing graph from a new report in the Journal of Economic Perspectives shows, there is a pretty straightforward reason that big money has become so unassailable in modern American politics.

Sam Pizzigatti has more at Too Much online and Maureen Dowd touches on the same sobering theme in her weekend broadside at the Clinton wealth machine.

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NC Policy Watch follower Betsy Caudle Lowman of Boone recently sent us the following essay — we hope you will enjoy it.

U.S. declines into “de-MOCK-racy”
By Betsy Caudle Lowman

Each year The Economist, a conservative British news magazine, rates the nations of the world on the degree to which they operate according to democratic principles. This year, Norway replaced Sweden at the top of the heap. The United States is not included in the highest category, which includes Norway, Sweden, Denmark, Finland, Canada, Australia, Germany, France, and Britain. Should this surprise anyone?  Americans love to believe they have government “of the people, by the people, and for the people,” but this has never been less true than at present.  Read More