Friday, August 29, 2008

Income and Wealth Inequality in the US

Working people are working harder and longer, resulting in greater productivity and thus greater company profits. Yet workers incomes have been flatlined or declined for years, benefits are being taken away, and the cost of living is skyrocketing. Oftentimes these workers are getting laid off or having their jobs sent overseas. Meanwhile CEO compensation has gone through the roof exponentially over the years. Yet Republicans continue to give new tax cuts every year to these wealthiest Americans. This was one of the first things the Bush administration did once it got into power claiming it was necessary to "stimulate the economy". Seven years later we're still waiting for the trickle to come down.

Senator Bernie Sanders of Vermont breaks it down here:

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