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The 1% is Hogging so much of our Income that it's Holding the Economy Back | Informed Comment
www.juancole.com/2013/12/hogging-holding-economy.html, posted 2013 by peter in finance opinion politics toread
We all know that inequality has been rising and the average American household has been suffering. There is a myth that says all this suffering is necessary, that extreme inequality is the by-product of a rapidly growing economy—or worse, that it’s a good thing because it motivates everyone to work hard and climb the long ladder to the One Percent. § Even a brief glance at the historical record reveals just how perverted this hypothesis is.