The rich get richer UPDATE | Arkansas Blog

Tuesday, September 28, 2010

The rich get richer UPDATE

Posted By on Tue, Sep 28, 2010 at 6:34 AM

Census data shows the gap between the income of rich and poor is wider than it has ever been. The disparity is the worst among western nations. I guess this is what the Tea Party and those angry male Republican voters are so upset about.

UPDATE: A reader notes that Timothy Noah wrote a 10-part series in Slate on the growing gap between haves and have-nots and wrote further about it this week, including link to his earlier work.

In the first installment, I noted that in 1915, when the richest 1 percent accounted for about 18 percent of the nation's income, the prospect of class warfare was imminent. Today, the richest 1 percent account for 24 percent of the nation's income, yet the prospect of class warfare is utterly remote. Indeed, the political question foremost in Washington's mind is how thoroughly the political party more closely associated with the working class (that would be the Democrats) will get clobbered in the next election. Why aren't the bottom 99 percent marching in the street?

One possible answer is sheer ignorance.

UPDATE: The Arkansas child poverty rate jumped to 26.9 percent in 2009, an "astounding" increase.

UPDATE II: Talk about rich. 26 Republican senators, led by Mitch McConnell, are pushing legislation — even as they fight for tax cuts for the rich — to end the earned income tax credit and the child tax credit, vital help to poor families.

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