Wednesday, June 5, 2013

Corruption

During the past 40 years the inflation adjusted income for the middle class rose 65% while the income for the top 1% rose 275%. If this were the free market working independently, I would not object but forces are at work that cause the field to be tilted in favor of the rich. These range from political influence to insider information to outright corruption. This is what the Tea Party and the Occupy Wall Street people object to and efforts should be made to resolve these problems. It is the middle class where the income increases are not what they seem. The 65% figure is based on family income and much of that has come from the fact that we now have more two income families in the middle class. Were it not for women entering the work force the figures for the middle class would be less favorable. There will always be disparities in income distribution and that is as it should be but corruption should not be part of the calculus.

No comments:

Post a Comment