When income growth hits a brick wall: From 1949 to 1979 over 60 percent of all income growth went to the bottom 90 percent. After that, things changed for the middle class.

The corporate grip on opinion in the United States is one of the wonders of the Western world. No First World country has ever managed to eliminate so entirely from its media all objectivity – much less dissent.–Gore Vidal

We must not confuse dissent with disloyalty. When the loyal opposition dies, I think the soul of America dies with it.  —Edward R. Murrow

dissent-is-not-allowed21The aristocracy and the rule of wealth, democratic or republican, it makes little difference as we have evolved into one party, with various factions. The one party is the Fascist Empire of the United States and its goal is the destruction of dissent, the restriction of competition, the end of the remnants of unions, and ultimately total control of the population and of population control. Capitalists do not favor free markets nor does the American government, they never have.

America is becoming intentionally divided and bar-belled into two major distinct classes with little transitional mobility, the proletariat dependent class and the rich. A subdivision within this class structure could be described as the bureaucratic class, comprised of government and NGO employees. The middle has all but disappeared as has the rule of law for the first class and freedom for the proletariat. 

People routinely wake up every day, grab breakfast, and hurry out of their door to work. Most are merely running on a treadmill trying to make sure they have enough money to pay the bills that come down like a torrent of water. Is this pinching of the wallets really a shrinking of the middle class or is something else going on? If we examine income growth after World War II we find convincing data that yes, people are feeling financially pressured because income growth is simply not occurring like it once did. Most of the gains are not going to the working and middle class. Healthy income gains with steadily rising prices allowed many Americans to truly increase their standard of living.

Tincome-growthoday, you have many items including housing, healthcare, and education quickly outpacing any income gains to be had. On top of this situation you have many other costs being thrown onto the public including rising healthcare costs and the need to save for retirement. When we look at retirement figures the numbers are troubling. Most will need to work until their heart stops beating on that treadmill. Many are feeling poorer because in many measurable ways, they are poorer.

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via When income growth hits a brick wall: From 1949 to 1979 over 60 percent of all income growth went to the bottom 90 percent. After that, things changed for the middle class..

The Benefits of Economic Expansions Are Increasingly Going to the Richest Americans – NYTimes.com

Economic expansions are supposed to be the good times, the periods in which incomes and living standards improve. And that’s still true, at least for some of us.

But who benefits from rising incomes in an expansion has changed drastically over the last 60 years. Pavlina R. Tcherneva, an economist at Bard College, created a chart that vividly shows how. (The chart appears in print in the Fall 2014 edition of the Journal of Post Keynesian Economics, in her article “Reorienting fiscal policy: A bottom-up approach.”)

breadwinnerBack in the 1940s, ’50s and ’60s, most of the income gains experienced during expansions — the periods from the trough of one recession until the onset of another — accrued to most of the people. That is to say, the bottom 90 percent of earners captured at least a majority of the rise in income.

With each expansion in sequence, however, the bottom 90 percent captured a smaller share of income gains and the top 10 percent captured more.

Fast-forward to the 1990s and early 2000s expansions, and a new pattern emerged, with the huge majority of income gains going to the top 10 percent, leaving pocket change for everybody else. From 2001 to 2007, 98 percent of income gains accrued to the top 10 percent of earners, Ms. Tcherneva found, basing her analysis on data from Thomas Piketty and Emmanuel Saez, the academics who have made a speciality in documenting the rise of income inequality around the world. (As a point of reference, an American needed a 2011 adjusted gross income of $120,136 to be in the top 10 percent of earners that year, according to I.R.S. data.)

[gview file=”https://troutinmilk.com/wp-content/uploads/2014/09/The-Benefits-of-Economic-Expansions-Are-Increasingly-Going-to-the-Richest-Americans-NYTimes.pdf”]

[gview file=”https://troutinmilk.com/wp-content/uploads/2014/09/US-household-incomes-stagnate-despite-economic-recovery-FT1.pdf”]

[gview file=”https://troutinmilk.com/wp-content/uploads/2014/09/Allianz_Global_Wealth_Report_2014_en.pdf”]

via The Benefits of Economic Expansions Are Increasingly Going to the Richest Americans – NYTimes.com.

Excellent video……

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