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Forum Post: One fact the 1% can never deny, so we will NOT go away!!!

Posted 12 years ago on Oct. 3, 2012, 4:27 p.m. EST by Underdog (2971) from Clermont, FL
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8 Comments

[-] 2 points by beautifulworld (23822) 12 years ago

That is a great visual !! Thanks!

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[-] 2 points by Underdog (2971) from Clermont, FL 12 years ago

I would like to know what the conditions were from the 30s to 1980 that led to the decline to a more reasonable level bottoming out at 10% as the graph indicates. But one thing's for sure, as I have said all along, it all started when Reagan got in there and the rise of the neo-cons and their voodoo trickle-down BS. The 80s and 90s were mighty good to them. And we all pee-ons just stood by and let them do it unopposed. Shame on them, YES! But perhaps even greater shame on us.

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[-] 2 points by jrhirsch (4714) from Sun City, CA 12 years ago

The equalizing forces were union membership peaking in 1955, and higher capital gains, corporate, and personal taxes for the top earners from 1930 to 1980.

Those two things must be restored for the 99% to regain a fair share of the wealth they help produce.

http://visualeconsite.s3.amazonaws.com/wp-content/uploads/Income_Corp_CapitalGains_Rates.png

http://philebersole.wordpress.com/2012/06/12/the-decline-of-american-labor-unions/

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[-] 1 points by Underdog (2971) from Clermont, FL 12 years ago

Those charts are very interesting, particularly the one that shows an inverse relationship between decline in union membership and rise in income distribution difference.

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[-] 1 points by Underdog (2971) from Clermont, FL 12 years ago

Yes that's true. But the rich always behave the same. If we could figure out what forces were at work that reduced their income share (which they obviously were unable to oppose or they would have and you would not see the downward trend for decades like the chart shows), then maybe we could use that knowledge again (or maybe not, they might have wised up enough to prevent a repeat occurance).

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