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The ‘2nd American Revolution’ Explained by Way of a Graph

OccupyJobCreatorDancesOnFlagViaOccupyPosters
Discussion of “income inequality” is considered an out of date topic by some, but it’s as real, as significant and if we’re looking with open eyes and not through Duopoly supplied blinkers, as in-our-faces at this moment as it was when, for the obvious example, the Occupy movement made it “news.”

The graph is via David Ruccio at Real World Economics. The explanation he provides is from Dylan Matthews.

IncomeGraphOfSecondAmRevViaRealWorldEconomics

Until the 1970s, the bottom 90 percent had actually seen its income grow more than any other income group. The income gap was shrinking. But the ultra-rich quickly reversed that trend. In 2007, the top 0.01 percent had an average income almost seven times that of 1917; the average income of the bottom 90 percent had barely tripled. The country has grown more unequal, not less, since then. And, interestingly, the 90-99th percentiles all saw their average income grow faster than all but the tippy-top of the top 1 percent. The divide between the rich and the rest isn’t the only gap growing, in other words. The gap between the ultra-rich and the merely rich is growing, too.

(Dancing on Flag via Occupy Posters
Income Graph Of Second Revolution via Real World Economics)

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4 Responses to The ‘2nd American Revolution’ Explained by Way of a Graph

  1. Cujo359 February 22, 2013 at 4:15 pm #

    “Until the 1970s, the bottom 90 percent had actually seen its income grow more than any other income group. The income gap was shrinking.”

    Now, how can that be true? There you go again, pining for some mythical time when things actually worked to the benefit of the average working stiff.

    [/sarcasm]

    Who thinks this topic is outdated, for crying out loud? The problem has been getting worse, as lots of charts created recently explaining that this trend is continuing unabated.

    • Joyce Arnold February 22, 2013 at 7:40 pm #

      The EPI charts are very helpful, agreed.

      In a recent FB comment exchange (I was observing, not participating), I saw one example of thinking that this is “outdated.” One person mentioned that when the Occupy movement began, for the first time she really started paying attention, thinking about what was happening, regarding income inequality and such, and that she’d continue to learn more, get better informed, etc. She was immediately attacked by a couple of people who dismissed her as a silly, moronic Occupier, with one guy asking, “You do know that’s all done, right? And you Occupy clowns lost.” She tried to explain that she was talking about the economic / inequality issue, not the movement, but they insisted there was no real problem, just something a bunch of lazy people did instead of get a job. I think, in one form or another, that kind of dismissal, or avoidance, happens fairly regularly. It’s so much easier and comfortable to look the other way …

  2. secularhumanizinevoluter February 23, 2013 at 12:21 pm #

    “You do know that’s all done, right? And you Occupy clowns lost.” Ask BofA about that.

  3. mjsmith February 25, 2013 at 12:02 pm #

    Income inequality and poverty grew dramatically in the USA because of Obama and his supporters.

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