We do know the economy isn’t doing as great for us as it is for the robber barons, right? I remember reporters saying during the Bush era, “The GDP is really good, why are all these people worried about the economy?”
With the next crash, a lot fewer people will be eligible for unemployment.
I'm in favor. The new measure would pose some conceptual difficulties and might not be perfect — but GDP also involves a lot more questionable assumptions than people realize. And it would focus our minds on the right questions https://t.co/oYRPUbVEe8
— Paul Krugman (@paulkrugman) August 28, 2018
The Socialists seem to have gotten the attention of the Democratic leadership cadre. Finally.
How many people own how much?
They are not referred to as the 1% because the oligarchs are just scratching out a living like the rest of us 99%.
The top 10% owns as much wealth as the bottom 60%.
That’s wealth inequality.
The bottom 60% will remain poor until they are allowed to accumulate some wealth.
Which means that the top 10%, and especially the top 1%, will have to give up some of their wealth.
If Schumer is actually serious about fixing the problem of wealth inequality, and not just talking about it, he would call for 1) a massive tax increase on the rich and on large corporations,
2) An $18.00 an hour minimum wage, and
3) A single-payer health care system.