Tuesday, October 20, 2009

NYT: Safety Nets for the Rich

http://mobile.nytimes.com/article?a=473518&f=28&sub=Columnist&p=2

"Enough! Goldman Sachs is thriving while the combined rates of unemployment and underemployment are creeping toward a mind-boggling 20 percent. Two-thirds of all the income gains from the years 2002 to 2007 - two-thirds! - went to the top 1 percent of Americans.

We cannot continue transferring the nation's wealth to those at the apex of the economic pyramid - which is what we have been doing for the past three decades or so - while hoping that someday, maybe, the benefits of that transfer will trickle down in the form of steady employment and improved living standards for the many millions of families struggling to make it from day to day.

That money is never going to trickle down. It's a fairy tale. We're crazy to continue believing it."

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