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Gains from productivity were redistributed upward to the top income percentiles.
The private sector failed so miserably under George W. Bush when the nation's wealth was relentlessly looted and redistributed upward.
Another way that income and wealth is redistributed upward is by the weakening of labor laws, so that workers lack the strength or the leverage to bargain effectively with their employers.
Between interruptions, Obama bobbed and weaved skillfully enough, but he couldn't risk the distorted headlines had he pointed out that the wealth has already been redistributed, upward, from the middle class to the idle class.
While we needn't worry about a Great Depression, there is good reason to fear a prolonged period of stagnation in which unemployment is high and income is redistributed upward because workers have no bargaining power.
Similar(54)
His plan argues that the economic crisis in the U.S. right now comes not from the policy of the last 30 years that has redistributed wealth upward until the richest 1% of Americans control more than 34% of the nation's wealth, more than the bottom 90% combined.
It would redistribute wealth upward, taking money targeted to the poor and sharing it with everybody, including you and me.
As long as progressives ignore the rules that are designed to redistribute income upward, they will be left fighting over crumbs.
Unless, that is, the goal is to reduce wages and benefits in the public sector, weaken labour, redistribute income upward and reduce the size of government – then there is no time like the present to push these things through.
He's still being treated by many pundits as a man deeply concerned about deficits, when the fact is that his policy proposals are all about redistributing income upward, and make no serious effort to curb debt.
This is also why we are redistributing income upward with recent and proposed tax cuts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com