Thursday, August 29, 2013

COTW: Stagnation for the Rest of US

Household income has recovered some in the last two years but is still below the level of 2000 as this chart from Sentier Research shows [red line]: The black line shows the official unemployment level:

This chart from the Tax Policy Center shows why the rich are different from the rest of us:
The rich derive nearly two-thirds of their incomes from investments and businesses, the rest of us are paid stagnant wages that account for three-fourths of our incomes.  The chart also explains why the rich can perpetuate the myth that low corporate and capital gains taxes are necessary for economic growth.  They spend a large chunk of their corporate and investment income influencing Washington politicians.  US Person sure is tired of being trickled on; how about you?