We’ve mentioned this before, but it bears repeating; an increasingly desperate Right Wing is scrambling to justify the growing inequality between the 1% and the rest of us, so a few of their economists have made some contradictory claims. 1.) Income inequality isn’t actually happening, and 2.) It is happening, but is good for America. They say that because the middle class spends less on “basics,” we are doing just fine. This piece in the New York Times offers a good look at what the GOP’s economists are claiming, and then completely dismantles their arguments with actual facts.
The Hidden Prosperity of the Poor - New York Times
Paul Krugman takes it one step further and absolutely obliterates the GOP’s claims. Turns out the defenders of the right’s theory used a clever “bait and switch” to get the figures they wanted. Read on to learn more.
Consumer Spending and Inequality Denial - New York Times
Still not convinced income inequality is wreaking havoc on our economy? Reuters has an entire series dedicated to showing how this problem is ruining lives of plenty of Americans across the country.
The Unequal State of America - Reuters