NYT:
Narrowing the Income Gap, Without Another Bust
In our era of historically high levels of income inequality, growth is of course necessary, but it’s not sufficient to lift the living standards of the bottom half. The chart above gives a rough look at the problem, showing the growth over the expansion thus far in G.D.P. (up 10 percent), corporate profits (up 50 percent), the Standard & Poor’s 500-stock index (up 77 percent), and median household income (down 4 percent), all adjusted for inflation.
Yet, those poor households are mainly savers, and the short end of the saving curve has been flatlined, under orders from the NYT and its allies in DC. The NYT is guilty of an Orwellian desire to centralize all of the poor's budget into DC, they make a business out of it.
If government in DC really wants to help the poor, then make cash labor legal and let the deposit rate rise.
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