What to do about China?
Maine Senate Tells Congress: No More Fast Track

There's still hope.

It Didn't End Well Last Time, but there's still hope this time.

An editorial in today's New York Times outlines the income inequality that has swept the nation, which is comparable if not greater to that seen during the Robber Baron era:

In 2005, the latest year for which figures are available, the top 1 percent of Americans — whose average income was $1.1 million a year — received 21.8 percent of the nation’s income, their largest share since 1929.

Over all, the top 10 percent of Americans — those making more than about $100,000 a year — collected 48.5 percent, also a share last seen before the Great Depression.

The Times is right on track noting that government policies do matter, like the minimum wage and progressive tax programs. However, the Times fails to address one of the core causes of income inequality - failed NAFTA-like trade policies (PDF) that keep wages flat, weaken labor unions' negotiating power and send high paying quality jobs overseas.

TPM Café has more on income inequality.

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)