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Goldman Advisor: "Income Inequality Will Lead to Prosperity for All." He May be Right.
ROTFLOL!!!!!!
Well you know, the public has been duped ever since the actor became President. Maybe enough people will believe it?
On second thought, he's may be right! The last time we had extreme income distribution (1920's), the ensuing crash lead to Glass-Steagal Act which prevented banks from owning financial companies and vice-versa. Roosevelt came into office and tax the bankers and their friends over 80% income tax. It took a while, but after our WWII success we experience 40 years of expanding wealth for the middle class.
He just may be right.
Well you know, the public has been duped ever since the actor became President. Maybe enough people will believe it?
On second thought, he's may be right! The last time we had extreme income distribution (1920's), the ensuing crash lead to Glass-Steagal Act which prevented banks from owning financial companies and vice-versa. Roosevelt came into office and tax the bankers and their friends over 80% income tax. It took a while, but after our WWII success we experience 40 years of expanding wealth for the middle class.
He just may be right.
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THE FORTY YEARS BEING 1945 TO 1998?
Aint been no expansion for awhile. The pigs now own everything.
http://www.youtube.com/watch?v=k34COolbdmY
?
October 21, 2009 5:47 PM | Reply | Permalink
I'm thinking from 1945 to somewhere in the early 1980's. There's been little middle class expansion in the past 25 years or so. Since Reagan, the top 1% have increase their wealth 600%, while middle class wealth has increase only 22%. That's when Reagan reduced taxes for the top earners and weakened bank regulations, initiating an onslaught of bank failures.
October 21, 2009 8:15 PM | Reply | Permalink
Sounds about right. The death of the unions roughly corresponds also.
October 22, 2009 4:34 AM | Reply | Permalink
Far more than unions have died across this span of time. Killin' is happening in more ways than we've noticed.
October 22, 2009 6:21 AM | Reply | Permalink
Reagan made us the shining city on the hill, but it's been sliding downhill ever since!
October 22, 2009 1:41 PM | Reply | Permalink