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      New Data Show Income of Top 0.1% Soared 345% While That of Bottom 90% Stagnated Over Past 40 Years

      New Data Show Income of Top 0.1% Soared 345% While That of Bottom 90% Stagnated Over Past 40 Years

      "It's all a matter of political choices," progressive economist Thomas Piketty said in a recent interview. "You can have economic justice together with economic prosperity."

      Brett Wilkins
      Dec 01, 2020

      U.S. wage data released this week reveal the continuation of a trend that began at the end of the 1970s, and which has given the United States the dubious distinction of having the worst income inequality among most-developed countries.

      The Economic Policy Institute reports that between 1979 and 2019, the top 1% of people in the U.S.--whose mean income was nearly $738,000 in 2018-- have enjoyed 160% income growth, while wages for the bottom 90% have stagnated, rising just 26% over the same 40-year period.

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      Why We Need a Wealth Tax

      Why We Need a Wealth Tax

      Not only would a wealth tax raise revenue and help bring the economy back into balance, but it would also protect our democracy by reducing the influence of the super-rich on our political system.

      Robert Reich
      May 14, 2019

      The crisis of income inequality in America is well-known, but there is another economic crisis developing much faster and with worse consequences. I'm talking about inequality of wealth.

      The wealth gap is now staggering. In the 1970s, the wealthiest tenth of Americans owned about a third of the nation's total household wealth. Now, the wealthiest 10 percent owns about 75 percent of total household wealth.

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      Opinion
      Looking Back at 1919: Immigration, Race, and Women's Rights, Then and Now

      Looking Back at 1919: Immigration, Race, and Women's Rights, Then and Now

      The 100-Year-Old Echoes of 2019

      Arnold R. Isaacs
      Apr 17, 2019

      Reading about immigration policy, religious and racial bigotry, and terrorism fears in America in 1919 offers an eerie sense of decades melting away and past and present blurring together.

      The blend isn't exact. Bigotry was expressed much more explicitly a century ago, not in code as it usually is now. Jim Crow laws in the South and other forms of racial segregation in the rest of the country were seen by most white Americans as the normal state of affairs. In the national debate on immigration, the most inflammatory rhetoric was largely aimed at immigrants from Asia, not Latin America or the Middle East; Slavs, southern Europeans, and Jews from Eastern Europe also faced widespread hostility. Religious prejudice was typically directed at Jews and Catholics, not Muslims. Yet despite those differences, many of the underlying attitudes and the tone of the immigration argument 100 years ago were strikingly similar to those that roil our society today.

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