Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
CHART: How The 1934 Recovery Benefited The 99 Percent, While 2010's Benefited The Rich
http://thinkprogress.org/economy/2012/03/16/446102/chart-1934-2010-recovery-rich/In 2010, as the nation slowly ground its way from Great Recession to recovery, 93 percent of national income gains went to the richest 1 percent of Americans. As Reuterss David Cay Johnston pointed out today, this makes the 2010 recovery quite different from the recovery that followed the Great Depression, as then, income gains were widely shared by the population, not concentrated at the very top:
The 1934 economic rebound was widely shared, with strong income gains for the vast majority, the bottom 90 percent.
~~
~~
National income gained overall in 2010, but all of the gains were among the top 10 percent. Even within those 15.6 million households, the gains were extraordinarily concentrated among the super-rich, the top one percent of the top one percent.
Just 15,600 super-rich households pocketed an astonishing 37 percent of the entire national gain.
<more>
The 1934 economic rebound was widely shared, with strong income gains for the vast majority, the bottom 90 percent.
~~
~~
National income gained overall in 2010, but all of the gains were among the top 10 percent. Even within those 15.6 million households, the gains were extraordinarily concentrated among the super-rich, the top one percent of the top one percent.
Just 15,600 super-rich households pocketed an astonishing 37 percent of the entire national gain.
<more>
... to have a healthy, growing economy with good job creation we need much more of the wealth to be distributed to the middle and lower income groups so a greater proportion of it will be spent. We need demand for more products and services if we are to see good jobs growth. Under these conditions the very wealthy will actually do better - if they are invested in the right areas. With a growing economy the very wealthy, invested in the right areas will do better than in an economy where most of the people are effectively peasants without much money to spend.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 1660 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (12)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
CHART: How The 1934 Recovery Benefited The 99 Percent, While 2010's Benefited The Rich (Original Post)
Bill USA
Mar 2012
OP
Wilms
(26,795 posts)1. That's because FDR was in charge.
Not the DLC.
Now we all Hope to get by on Change.
Doctor_J
(36,392 posts)2. The president did himself, the party, and those who worked for him
a severe disservice by meeting the repukes on their side of half-way