And the Rich Get Richer

Harold Meyerson in the Washington Post talks about this study [pdf], by Emmanuel Saez, which reports that in 2010, 93% of the United States’ income growth “went to the wealthiest 1 percent of American households”. The rest of us fought over what was left.

The attention-getting Occupy! movement of last year mainly sold some newspapers, it seems, without having much immediate impact — but then, you wouldn’t expect a fairly superficial uprising to change entrenched interests. As someone else said somewhere, the real goal should be reforms in corporate governance rather than a redistribution via changes to the taxcode.

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