Friday, November 23, 2012

Broken Income Distribution System

This is a nice display over time of the percentage of national income received by the top decile (tenth). So why should the top 10% receive half of all national income? Because they are so productive? So essential to the economy? Because they make so many things? If you believe any of those explanations, you've never met one.

These are the real moochers, parasites or leeches. Our economy worked better when the top decile received only about a third of the national income.

Even that is a disproportionate reward for what they contribute to society.

We should so manage our economy as to promote general prosperity, not to promote increased concentration of wealth at the top. It works better that way.

http://jaredbernsteinblog.com/wp-content/uploads/2012/11/pik_saez1.png

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