Tuesday, February 1, 2011

The National Discussion which isn't

I think the discussion of income disparity and middle-class income stagnation will eventually arrive in the middle of the public discourse.  Currently it seems that nearly all this discussion occurs in democratic/progressive circles, while republicans are busy blaming government regulation and taxation for limiting innovation.  I guess I fault republicans for not facing up to the fact that income stagnation has led directly to our current Great Recession, while faulting democrats for ignoring the competition form abroad.  I think a lot more goes into stagnation besides tax policy, globalization and regulation, especially US oil consumption, peak oil and trade imbalances.  I think this post highlights some of the more compelling portions of the democratic income stagnation discussion.  Significantly:
...Median family income was $64,000 in 2007. Had it kept pace with GDP per family since the mid-1970s, it instead would have been around $90,000.

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