In the Humble Opinion of LittleBill, Socialist, Atheist, and Humanist
Busheconomics for the 21st Century

Income Gap Is Widening, Data Shows

Prof. Emmanuel Saez, the University of California, Berkeley, economist who analyzed the Internal Revenue Service data with Prof. Thomas Piketty of the Paris School of Economics, said such growing disparities were significant in terms of social and political stability:

If the economy is growing but only a few are enjoying the benefits, it goes to our sense of fairness. It can have important political consequences.


LittleBill said...

Kind of blows your mind, doesn't it?

Beach Bum said...

One of the reasons I left my very nice paying electronic technician job at a local manufacturing plant was the practice the middle mangement had of laying off 50 people when the upper mangement types said to cut 40. The mid-level bosses always figured that they could make the remainder work harder to take up the slack of the extra 10 people cut. Upper-level bosses went along with it and kept getting new company supplied cars, real nice ones, while everyone else did without a cost of living pay raise. I was in maintenance and was fairly secure from layoffs because they always hit production people first.