The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Thursday, January 23, 2014

Pope Francis, President Obama And Progressive Economist Are UnClolseting Income Inequality.



President Obama referenced this data during a recent tour around the country. The GOP called the president's tour a campaign tour, we considered it interacting with the people on issues that matter most. The relevancy of the chart comes to light in just a bit. (September 11, 2013) It is important to remember who served as the US President in thr early 1980s. Hint: Trickle-down economics (AKA Reaganomics).

Barack H Obama, 44th President of the United States of America: Income inequality, December 4, 2013.
http://youtu.be/GmRgU2B1pe0




Pope Franics, Pontiff, Income inequality, December 12, 2013
http://video.cnbc.com/gallery/?video=3000226250



 
Since the inception of the site, The Progressive Influence joined many progressive media in delineating the unfairness, and danger of growing income inequality. Linked; Linked..... ________________________________________________  
Huffington Post is reporting the result of an exhaustive study by four noted economist: Facundo Alvaredo, Anthony B. Atkinson, Thomas Piketty, and Emmanuel Saez.

          

Huffington Post excerpt...
new paper by economists Facundo Alvaredo, Anthony B. Atkinson, Thomas Piketty, and Emmanuel Saez lays out just how much better at making inequality the U.S. is than everybody else and tries to explain how it got that way.
Since the 1970s, the top 1 percent of earners in the U.S. has roughly doubled its share of the total American income pie to nearly 20 percent from about 10 percent, according to the paper. This gain is easily the biggest among other developed countries, the researchers note. You can see this in the chart below, taken from the paper, which maps the income gains of the top 1 percent in several countries against the massive tax breaks most of them have gotten in the past several decades. (Story continues after chart.) 
top 1 percent


The higher the dot, the more income inequality has grown in that country. See the red dot waaaay up in the left-hand corner, far away from everybody else? That is the United States, where the top earners have made more while getting their taxes slashed by over 40 percent.

The facts are irrefutable and enunciate inevitable social unrest. While we suspect the economists may possess inclinations towards progressive economic theory (if there is such an animal [right SJ ???] ) or they may share a paradigm that embodies the reality of income disparity.
Our need to report on today's study results is mitigated by the thoroughness and detail of the Huffington Post article, linked above.  We are opting to develop another screed based on research from the Center on Budget and Policy Priorities, Off The Charts Blog.

We progressives have spoken and written profusely about income inequality. Isn't it amazing that politics and religion are now joining via the Pope Francis (and his first public address) around the issue. The issue is also now in the pubic domain due to the election of a Democrat as president in 2008 and a re-election in 2012. It shouldn't take a triple-reverse somersault to realize the election of any republican to the White House would have led to continued "closeting" of income inequity. Let's face it Pope Francis also knows the time is right due to an ally in the White House . Standing alone with the ultimate Top 1% (er) Mitt Romney as president. 

Look for a few pieces on this topic as the weekend progresses.


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