We Suck, We Really Suck
It turns out that The Heritage Foundation and American Enterprise Institute have signed onto a new report on economic mobility sponsored by the Pew Charitable Trusts. The only problem is that the report shows that the very policies these two think tanks have advocated have led to workers doing far less well than the previous generation.
You will find info in the report such as this:
·Growth in after-tax income for the top 1 percent has far outpaced growth for others between 1979 and 2004.Thanks guys for pointing out what we already knew. The free market fetishism you push has been a massive failure. (h/t Tula Connell)
·The United States has less relative economic mobility than many other developed countries.
·Income falls behind productivity. Between 1947 and 1974, productivity and income grew together, but between 1974 and 2005, productivity and income grew apart.