Chart of the day

In a post about Romney’s absurd claim that concerns of income inequality are all about “envy” (worth reading on its own), Yglesias includes this nice little chart that I think really sums up a lot of the problem.

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 But a very large share of the gains we’ve made over the past three decades have gone to a relatively small number of people. If the gains had been broadly shared, then the burden of paying for that basic infrastructure and public services would have to be very broadly shared. But the gains have been very concentrated, and so if we’re going to afford that stuff, a large share of the revenue has to come from the people who’ve gotten the money.

That’s not envy, that’s math.

And, a great example of why we use median income instead of mean income.  This is not about “punishing the rich” it’s about seeing that more Americans benefit from the country’s economic gains.

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About Steve Greene
Professor of Political Science at NC State http://faculty.chass.ncsu.edu/shgreene

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