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Ruth Marcus: “Pitfalls of Soaking the Rich”

Posted on July 7 2010 10:15 am
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by Ruth Marcus

Rich Trumka — the AFL-CIO president intercepts any attempted honorific with an easy, “Call me Rich” — comes armed with charts. His first one is, literally, in shades of gray. Its message is anything but.

Once, its bar graphs report, the middle class and the wealthy prospered in tandem. Between 1947 and 1973, the rich got richer, but the not-so-rich actually prospered more. The household income of the middle 20 percent of Americans nearly doubled, while the income of the top 20 percent of Americans rose the least of any group, 85 percent.

Read the whole thing.

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