{"id":8139,"date":"2014-02-11T04:55:54","date_gmt":"2014-02-11T04:55:54","guid":{"rendered":"https:\/\/maverickphilosopher.blog\/index.php\/2014\/02\/11\/the-poor-are-not-poor-because-the-rich-are-rich\/"},"modified":"2014-02-11T04:55:54","modified_gmt":"2014-02-11T04:55:54","slug":"the-poor-are-not-poor-because-the-rich-are-rich","status":"publish","type":"post","link":"https:\/\/maverickphilosopher.blog\/index.php\/2014\/02\/11\/the-poor-are-not-poor-because-the-rich-are-rich\/","title":{"rendered":"The Poor are not Poor Because the Rich are Rich"},"content":{"rendered":"

As Robert Samuelson points out<\/a>.<\/span><\/p>\n

\n

The two conditions are generally unrelated.<\/span><\/p>\n

[. . .]<\/span><\/p>\n

It's also not true, as widely asserted, that the wealthiest Americans (the notorious top 1 percent) have captured all the gains in productivity and living standards of recent decades. The Congressional Budget Office examined income trends for the past three decades. It found sizable gains for all income groups.<\/span><\/p>\n

True, the top 1 percent outdid everyone. From 1980 to 2010, their inflation-adjusted pretax incomes grew a spectacular 190 percent, almost a tripling. But for the poorest fifth of Americans, pretax incomes for these years rose 44 percent.<\/strong> Gains were 31 percent for the second poorest, 29 percent for the middle fifth, 38 percent for the next fifth and 83 percent for the richest fifth, including the top 1 percent. Because our system redistributes income from top to bottom, after-tax gains were larger: 53 percent for the poorest fifth<\/strong>; 41 percent for the second; 41 percent for the middle-fifth; 49 percent for the fourth; and 90 percent for richest. [Emphasis added.]<\/span><\/p>\n<\/blockquote>\n

\nRelated articles<\/legend>\n
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\"\"<\/a>How to Get Rich Quick!<\/a><\/div>\n
\"\"<\/a>Worldly Success: How Much is Enough?<\/a><\/div>\n
\"\"<\/a>"We imagine that punishing the rich will miraculously uplift the poor," Says Washington Post Columnist<\/a><\/div>\n<\/div>\n<\/fieldset>\n","protected":false},"excerpt":{"rendered":"

As Robert Samuelson points out. The two conditions are generally unrelated. [. . .] It's also not true, as widely asserted, that the wealthiest Americans (the notorious top 1 percent) have captured all the gains in productivity and living standards of recent decades. The Congressional Budget Office examined income trends for the past three decades. … Continue reading “The Poor are not Poor Because the Rich are Rich”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[215],"tags":[],"class_list":["post-8139","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/posts\/8139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/comments?post=8139"}],"version-history":[{"count":0,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/posts\/8139\/revisions"}],"wp:attachment":[{"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/media?parent=8139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/categories?post=8139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maverickphilosopher.blog\/index.php\/wp-json\/wp\/v2\/tags?post=8139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}