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October 28, 2011

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All our pie is growing taller

Trends in the Distribution of Household Income Between 1979 and 2007 CBO October 2011

[http://www.washingtonpost.com/opinions/the-study-that-shows-why-occupy-wall-street-struck-a-nerve/2011/10/27/gIQA3bsMNM_story.html 28Oct11]

Yes, America in a nutshell. In all honesty, however, I suspect this has been the norm in our country from 1776 to roughly 1935, then again from about 1980 til today.

A large prosperous middle class in this country is not the norm and it took the New Deal (and WWII with the GI Bill) to build it up to what I remember growing up. Today we can choose to rescue the middle class or revert back to the bad old days. I'm betting on the latter because Americans aren't smart enough to realize that wealth is a national resource. The smart, hard-working, healthy, lucky people build wealth and have a right to keep most of it, but the rest must be shared to keep the country strong and keep the workers who keep the country running smoothly healthy (and content).

This flies in the face of America's proud rugged-individualist image of ourselves.


A Saint With Sharp Elbows


In January of last year, Elizabeth Warren went on The Daily Show and did what was then, and still is, that rarest of things: She gave a cogent, compelling, almost crystalline account of the financial collapse.

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