Increasing Inequality

The Boston Globe reports “with traditional middle-class jobs vanishing along with factories, some economists worry that the nation’s labor force is stratifying into a skilled, well-paid elite and a mass of lesser-skilled workers struggling to hold on to their standard of living.” Since 1983, the wealth of the top 1% has doubled at the same time the wealth of the bottom 40% has been cut in half. And the White House has made the problem worse: not only has the administration endorsed offshoring U.S. jobs, it has also sponsored forums urging U.S. manufacturers to move operations abroad. Additionally, it has given a $40,000 tax cut to every millionaire in America at the very same time 1.7 million Americans stuggle below the poverty line. Why? Because the President apparently is playing to his “base.” As he told a “diamond-studded, $800-a-plate crowd” during the 2000 campaign, “This is an impressive crowd – the haves and the have-mores. Some people call you the elites; I call you my base.” See this American Progress wage inequality analysis.

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