Skip to main content

View Diary: Obama's proposal to raise the minimum wage collides immediately with usual Republican malarkey (171 comments)

Comment Preferences

  •  Saez/Piketty update: income inequality worsens... (2+ / 0-)

    Saez & Piketty have updated their study on income inequality, and it's available HERE.

    From Yves Smith at Naked Capitalism...

    Yes, Virginia, the Rich Continue to Get Richer: the Top 1% Got 121% of Income Gains Since 2009
    Yves Smith
    Naked Capitalism
    Wednesday, February 13th, 2013    5:11AM

    Yes, sports fans, you read that headline correctly. The top 1% has captured all of the income gains since 2009 and then some, roaring ahead while the rest of the population slipped behind. A new paper by Emmanuel Saez (along with his frequent co-author Thomas Piketty, a long-standing cataloguer of income inequality) estimates that the income gains to the top 1% from 2009 to 2011 were 121% of all income increases. How did that happen? Incomes to the bottom 99% fell by 0.4%...

    A real increase in the minimum wage throughout our country is beyond necessary. It's critical!

    "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

    by bobswern on Wed Feb 13, 2013 at 10:10:55 AM PST

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site