Jim Manis on Most Anything

Jim Manis can formulate an opinion about a good many things, including those about which he has little knowledge. (And some dude named "Lazlo.") Visit The MagicFactory.

Wednesday, March 28, 2012

What You Should Be Reading:

Harold Meyerson's opinion in today's Washington Post. Meyerson has mined data from University of California economist Emmanuel Saez illustrating what's happened to the economy over the past twenty years. Following the Reagan recessions in the 1980s and early 1990s, "45 percent of the nation's income growth" went to the top 1 percent of the population. Following the dot-com bust, "65 percent of the income growth went to the top 1 percent." And this time 93 percent has gone to that same top 1 percent.

This is the trickle that Reagan dreamed of. Like a river dammed, the flow is steadily drying up.

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