We're in a Recession Because the Rich Are Raking in an Absurd Portion of the Wealth

[JohnSmith2007 353]

Robert Reich.... All I can say is

Who would listen to this idiot?

[I AM NOT THAT GUY 5,715]

Wow, a retarded response to a retarded article. Good job #####. Or is that ######?

[Ban Hammer 13,567]

'more adequately dispersed' wow.

marx woulda been proud, eh?

Incomes shouldn't go up "just because". You should earn more if you add more value. If you do the same job year after year, the exact same way, doing the same thing and never learning doing anything new (a new technique, a new strategy, a new methodology, etc), then your income should stagnate because you are stagnating too.

but that's not fair, everyone is supposed to win!

Edited July 13, 2010 by charles!

[SMR 368]

Robert Reich is saying that income should be more adequately dispersed so that all boats are lifted instead of just those in the top income bracket. There's no logic as to why most American's incomes have remained relatively stagnant over the last 40 years, while the upper 1% income has gone up exponentially. As he pointed out - the two largest income gaps in our history were followed by the two worst economic crisis and there is a correlation. With stagnant wages, most Americans have had to borrow their way to make ends meet. The rich don't pay high credit interest rates or ever have to resort to payday loans.

I don't know what data or measure the author is using to assert that wages are stagnant when adjusted for inflation, but the reality is that today the middle class has much more buying power and a higher standard of living. The amount of electronics, cars, clothing, housing, and other possessions that the middle class accesses and uses dwarfs anything from 70, 50, or even 20 years ago. Wages may or may not be stagnant, but the middle class has more access to goods and services than ever before. The economic collapse was caused by the simple greed of people who borrowed money to buy things they couldn't afford.

[JohnSmith2007 353]

I don't know what data or measure the author is using to assert that wages are stagnant when adjusted for inflation, but the reality is that today the middle class has much more buying power and a higher standard of living. The amount of electronics, cars, clothing, housing, and other possessions that the middle class accesses and uses dwarfs anything from 70, 50, or even 20 years ago. Wages may or may not be stagnant, but the middle class has more access to goods and services than ever before. The economic collapse was caused by the simple greed of people who borrowed money to buy things they couldn't afford.

Word.

[Fandango 1,440]

marx woulda been proud, eh?

but that's not fair, everyone is supposed to win!

Just when I think I couldn't find Steven's viewpoints any more ludicrous, he goes and posts something like this.

[one...two...tree 2,762]

Just when I think I couldn't find Steven's viewpoints any more ludicrous, he goes and posts something like this.

Keep your personal insults to yourself, Lisa. You use every opportunity to make a personal dig at me - which says more about you than any shortcomings I possess.

[one...two...tree 2,762]

I don't know what data or measure the author is using to assert that wages are stagnant when adjusted for inflation, but the reality is that today the middle class has much more buying power and a higher standard of living. The amount of electronics, cars, clothing, housing, and other possessions that the middle class accesses and uses dwarfs anything from 70, 50, or even 20 years ago. Wages may or may not be stagnant, but the middle class has more access to goods and services than ever before. The economic collapse was caused by the simple greed of people who borrowed money to buy things they couldn't afford.

Post #23:

U.S. corporate profits surged 87 percent from the third quarter of 2001 to the end of 2003, according to Commerce Department figures. Wages and salaries grew 4.5 percent.

The increase in workers' pay was the smallest for the first nine quarters of any recovery since World War II, said Barry Bosworth, who directed the White House Council on Wage and Price Stability during Jimmy Carter's administration. After inflation, real wage gains were 1.1 percent, Bosworth said.

Can you reference a source that backs up your claim that incomes for the Middle Class have increased at a steady rate over the last 40 years? More buying power and higher standard of living means their incomes have grown significantly, unless you are making the point that goods are cheaper now.

Edited July 13, 2010 by El Buscador

[one...two...tree 2,762]

Robert Reich.... All I can say is

Who would listen to this idiot?

Not Gary.

[JohnSmith2007 353]

Not Gary.

Back on that again? Have fun!

[one...two...tree 2,762]

Back on that again? Have fun!

It's ok, Gary. I've known for a long time. Anyone who's read your posts before knows its you.

[mawilson 2,133]

Robert Reich is saying that income should be more adequately dispersed

Steal from the rich and give to the poor? Well aren't ya a regular Robin Hood.

[^_^ 5,021]

It's ok, Gary. I've known for a long time. Anyone who's read your posts before knows its you.

Everyone knows it's Gary.

[JohnSmith2007 353]

Everyone knows it's Gary.

Thats nice. Good luck with that.

[^_^ 5,021]

Thats nice. Good luck with that.

Good luck with what exactly?