Re:Big Cities No Longer Deliver for Low-Skill Workers
by InclinedPlane on Tuesday January 22, 2019 @09:06PM
(#18975027)
When the statistics back it up?
Yes, it's possible for the rich to get richer while the poor also get richer. It's also possible for the rich to get richer by taking all the economic gains for themselves, leaving the poor to stagnate or to get poorer.
Over the past 40 years the bottom half of the economy in the US has seen zero growth. This despite massive growth overall. This despite rising house prices, growing student loan debt, etc. The rich have gotten richer and the poor and the middle class have been edged out. It doesn't have to be this way, but it is.
Why? Because of wage suppression, union busting, wage theft, predatory and usurious student loans, corporate welfare, tax cuts for the wealthy, and on and on and on.
Yes, it's possible for the rich to get richer while the poor also get richer. It's also possible for the rich to get richer by taking all the economic gains for themselves, leaving the poor to stagnate or to get poorer.
Over the past 40 years the bottom half of the economy in the US has seen zero growth. This despite massive growth overall. This despite rising house prices, growing student loan debt, etc. The rich have gotten richer and the poor and the middle class have been edged out. It doesn't have to be this way, but it is.
Why? Because of wage suppression, union busting, wage theft, predatory and usurious student loans, corporate welfare, tax cuts for the wealthy, and on and on and on.