Do you ever wonder how much of your income has been redistributed to the rich since 1980? How much would you be earning now if the rich were only getting the same share of our total national income as they did back in 1980 or so? Back then the 1 percent stole only about 8 to 9 percent. We got the rest.
Now, thanks to the entire corrupt Republican Party, and the vast majority of corrupted Democratic Party politicians, the rich are officially stealing anywhere from 24 to 37+ percent of the total national income, depending on whose figures you are using. This is thanks in large measure to such Democratic Party politicians as Wall Street Senator Ron Wyden, as well as both Clintons’.
We can use Oregon as an approximate gauge for the entire nation since Oregon is only slightly above average in personal income compared to other states.
The figures in the graph above show that the typical Oregonian would be earning “nearly 3 times as much” today “had inequality remained at the 1980 level. Oregon’s actual median income in 2014 was $33,484, compared to $29,150 nationally.
In 2014, the average working Oregonian would have earned about $92,050, or nearly three times as much, had the 1 percent been only stealing from the rest of us at the same rate as they had been back in 1980. That suggests the average US citizen would have been earning around $83,000 a year in 2014, rather than the paltry $29,150.
Imagine how strong the demand for goods and service would be today for the 99 percent if the 1 percent had not rigged each of the three branches of the US government in their favor through corrupt politicians in both major political parties, and their complete corruption of the United States Supreme Court. (See the-editorial-the-rich-dont-want-you-to-read-corruption-of-the-united-states-supreme-court-what-the-rich-and-their-corporate-so-called-news-media-dont-want-you-to-know–JohnHively.Wordpress.com for more on this.)
When inflation is factored into income growth, notice which economic class has gotten the big raises since 1980 in the graph below, and which has not. Note also that the information presented is based on income tax returns, so the US rich have gained quite a bit more than it appears since they have stashed trillions of dollars abroad in Switzerland, Panama and elsewhere.
This means the real income gains of the rich are vastly understated. Thank you Ron Wyden. Thank you Bill Clinton. Thank you Hillary Clinton. Thank you all of you bought off Democrats and Republican politicians. Thank you corrupted US Supreme Court
John Hively's Blog: News and Analysis of the War Against the Middle Class 