Unlike some politicians, the business world recognizes the reality of income disparity

Some leaders of the business world are beginning to sound like left-wingers, as we see HERE: Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at General Electric, the increase in demand for high-end dishwashers and refrigerators dwarfs sales growth of mass-market models. As politicians and pundits in Washington continue to spar over whether economic inequality is in fact deepening, in corporate America there really is no debate at all. The...

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Gallup: Two-thirds of Americans — even most Republicans — dismayed by income disparity

THESE NUMBERS from the Gallup organization make it likely that President Obama will stress income disparity in his State of the Union speech next week: Two out of three Americans are dissatisfied with the way income and wealth are currently distributed in the U.S. This includes three-fourths of Democrats and 54% of Republicans. And THESE NUMBERS are what’s driving the dissatisfaction: 1. Just 13 Americans Made More from Their Investments in 2013 than the Entire SNAP  [Food Stamp] Budget. 2. The Richest 400 Took $300 Billion in 2013,...

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Income disparity in America is far, far worse than you think it is

Try to wrap your head around this....

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If Obama’s such a redistributionist, why have the rich become so much richer on his watch?

The emptiness of Mitt Romney’s charge that President Obama is unfairly trying to redistribute wealth is laid bare HERE: If President Barack Obama is trying to spread the wealth, he doesn’t have much to show for it. Republican Mitt Romney has attacked the president for supporting the use of government programs to redistribute income and for a free-spending response to the 2008 financial crisis. Yet since Obama took office in January 2009, wealthy Americans have continued to pull away from the rest of society. In the aftermath of the...

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Most Americans are worse off than they were 15 years ago

Nobel economist Joseph Stiglitz SAYS “the vast majority of  Americans… have been sold a bill of goods — trickle-down economics has never worked and is especially not working today.” Inequality is now far higher than just 30 years ago. The top 1 percent today gets around 20 percent of the nation’s income — twice what it did two decades ago. The top 0.1 percent’s share has almost tripled. Disparities in wealth are even greater. Some on the right argue that this is the politics of envy. They say what matters is not the share of...

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