TV News LIES

Friday, Jan 30th

Last update08:42:00 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...


Richest 1 percent to own more than rest combined: report

One percent own everythingThe income gap between the richest 1 percent and the rest of America widened to a...

Food stamp benefit cut may force a million people into 'serious hardship'

Food stamp cutsFood stamp eligibility rules are tightening in states across the country, causing up to one million...

More Than Half Of American Schoolchildren Now Live In Poverty

Children living in povertyFor the first time, more than half of U.S. public school students live in low-income households,...

How the states are redistributing wealth from middle class to 1%

wealth in americaIn 2008, then-candidate Barack Obama was lambasted for supposedly endorsing policies of wealth redistribution. The right...
 
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!