TV News LIES

Tuesday, Sep 30th

Last update03:46:05 AM GMT

You are here News Economy Government gets blamed for widening wealth gap

Government gets blamed for widening wealth gap

E-mail Print PDF

USA"Over the past generation, the patterns of income growth have been radically transformed," said Paul Pierson, professor of political science at UC Berkeley, adding that the argument "that rising inequality is simply an economic reality ... too easily lets policymakers off the hook."

Meanwhile, wages have grown by nearly 40 percent for the top 10 percent of earners over the past three decades, while wages for the bottom 50 percent of earners have remained stagnant or fallen, she said.

Allegretto called this "you're on your own economics" and said it is "why we have workers who have paychecks along with food cards; it's why we have a term called the working poor." She noted that the 400 richest people in the United States, as calculated by Forbes magazine, hold about the same amount of wealth as the bottom 50 percent.

"At the current levels, it's simply not possible for a large fraction of U.S. earners to support themselves and their families, even if everything goes right," and they can work full time, she said.

More...


Most Recent Related Stories...


Secret Recordings Expose Cozy Relationship Between Goldman Sachs And The NY Fed

Carmen SegarraThe New York Fed had become too risk-averse and deferential to the banks it supervised. Its...

Trump Plaza closes its doors, becomes 4th Atlantic City casino to close this year

Trump casino closesThe supervisor drew his finger in a slashing motion moments after the final hand of blackjack...

Treasury to unveil steps to curb tax inversions

Jacob LewTreasury Secretary Jacob Lew says he'll announce new steps on Monday to prevent American companies from...

US wealth gap putting the squeeze on state revenue

income inequalityIncome inequality is taking a toll on state governments.The widening gap between the wealthiest Americans and...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!