With all the campaign rhetoric about income inequality and the call for raising the minimum wage to 10.10, there was an interesting piece in the Wall Street Journal indicating (with govt numbers) that incomes (including government subsidies) five quintiles have actually risen in the last 30 years. While the top quintile has definitely gained more spending power than the rest, every quintile is substantially ahead of where it was 30 years ago. (Id post link, but its b!ehind the Paid section of WSJonline... those greedy rich !) Conclusion: Its easy to inflame envy and jealousy with rhetoric, but perhaps not so politically advantageous to deal with actual facts.
Posted on: Sat, 17 May 2014 14:38:49 +0000
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