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The No Benefit Economy
Robert Reich packs a big brain in a small body. And he has been using it to good effect to explain the mystery behind public dissatisfaction with the economy. As you might expect, it doesn't really take all of Reich's grey matter to come up with the answer:
Rarely before in history has the American economy grown so nicely without most Americans sharing in the growth. Corporate profits are fatter than they've been in years. What corporations aren't using for investment they're awarding to their top executives or distributing to their shareholders. The top one percent of income earners, gleaning over $750,000 this year, are doing wonderfully well and are quite happy about the economy. The typical family -- with stagnant income, a house that's no longer a piggy bank, and higher fuel bills -- is not. Hence the real disconnect.
Obvious, when you think about it. Strange the President hasn't figured it out yet. Perhaps he is too busy with his faintly implausible summer reading list?