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Robert Reich had a very good article in The Nation this past week. The former labor secretary pointed out that just before the Great Depression, income inequality had reached a zenith that could not support the economic system in the US. The richest 1% of Americans had accumulated 23.9% of the total income in the US, and, according to Reich, it was unsustainable. After the crash, through a series of progressive public policies, the disparity decreased until by the mid-70's, the top 1% had 8% to 9% of the income. Want to guess where we are today? Here's Reich from the article:
Consider: in 1928 the richest 1 percent of Americans received 23.9 percent of the nation's total income. After that, the share going to the richest 1 percent steadily declined. New Deal reforms, followed by World War II, the GI Bill and the Great Society expanded the circle of prosperity. By the late 1970s the top 1 percent raked in only 8 to 9 percent of America's total annual income. But after that, inequality began to widen again, and income reconcentrated at the top. By 2007 the richest 1 percent were back to where they were in 1928-with 23.5 percent of the total.
It's not an accident that after an eight year hiatus, suddenly the culture wars are back on.
I was reminded of this today by a line from Celinda Lake:
"When Republican voters and older voters get angry, they vote," she said. "When younger voters get angry, they stay home."
So when Sarah Palin (whose endorsement Kelly Ayotte desperately seeks) brazenly lies about Obama and guns and death panels and so on, it's all in the service of mid-term GOTV. That's much more valuable than the truth.
I wish I knew what could be done about this. Real journalism practiced on the TeeVee would certainly help, but we all know that's not going to happen.
