THIS CHART EXPLAINS WHY YOU CAN’T TRUST DEMOCRATS OR REPUBLICANS WITH THE ECONOMY (IF YOU’RE NOT RICH)

Pavlina R. Tcherneva income gains during us economic expansions

Pew Research’s Conrad Hackett tweeted a disturbing chart by economist Pavlina R Tcherneva—the richest 10 percent of Americans has soaked up an increasingly greater share of average income growth during every US economic expansion since the 1950s.

The 2009-2012 period can really piss you off—even if you’re a member of the top 10%. No one can grab nearly 120 percent of a nation’s income growth without someone else becoming poorer in the process, but that’s exactly what happened after the 2008 financial crash.

This level of income inequality means some people aren’t eating well, some families are never created, and some kids may never get a shot at contributing their best to the world, among other things.

The top 10% should also worry. There will be pitchforks in the streets, or worse, if the inequality trend continues…

It may be a good time for you to read George Packer’s The Unwinding, if you’ve haven’t done so already…

song currently stuck in my head: “take some time out (12-inch club version)” – arnold jarvis

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4 Responses to THIS CHART EXPLAINS WHY YOU CAN’T TRUST DEMOCRATS OR REPUBLICANS WITH THE ECONOMY (IF YOU’RE NOT RICH)

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