I don’t think he’d even acknowledge the income inequality if it weren’t for the protests the last two months.
A picture referenced in his paper says it all.
[img_assist|nid=15573|title=CBO Income inequality|desc=Cumulative Growth in Average After-Tax Income, by Income Group|link=node|align=left|width=431|height=450][/quote]
If I read that graph correctly, in mid to late 80s, the top 1% was seeing 50-100x more growth than the 21st-80th percentile. While in 2000-2007, it was probably between 3-7x more. So, wouldn’t the income growth inequality be more in the 80s, when the 21st-80th percentiles were at 0-5 while the top 1% were at 50-100? It’s also interesting that the graph end at 2007, right before the market and RE crash.
