Selig vs Hartmann - The Lost Decade

David Selig, Conservative Commentator / Pro-Business Advocate joins Thom Hartmann. It's no longer worth speculating whether or not America is in the midst of a lost decade. The numbers are in - and America IS definitely in the midst of a lost decade. At least the middle class is. According to a new study by the Pew Research Center - for the first time since World War 2 - the median household income of the middle class dropped in the last decade - from nearly $73000 to well below $70000. That might not sound like a lot - but as this chart shows - it means a significant decline in the middle class's share of national income - as in - how much of the total income in our nation belongs to the broad middle class compared to the very rich few at the top. This lost decade caps off a 30-year steep decline in the middle class share of national income - so that now - upper income Americans hold a greater share of national income than the middle class. And notice the line at the bottom - that's the lower class's share of income - it hasn't budged. So the rich get richer - the poor stay poor - and the middle class gets poorer. Still think those Bush tax cuts were a good idea? During this lost decade - as middle class incomes fell - the incomes of the 400 richest Americans - all billionaires - quadrupled. Oh, and their tax rates were halved during that same time too. Now given all this information - you would think doubling-down on more tax cuts for the rich would be a really, really ...

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