Oh yeah there wouldn't be any jobs if not for billionaires

Posted on: February 1, 2025 at 17:27:08 CT

What horsesht. Up until about the 70s worker wages mostly kept up with increased costs of living. That stopped between '72 and '74 and since then there has been the Great Transfer of wealth from the bottom 90 to the top 1.This is not some back-of-the-napkin approximation. According to a groundbreaking new working paper by Carter C. Price and Kathryn Edwards of the RAND Corporation, had the more equitable income distributions of the three decades following World War II (1945 through 1974) merely held steady, the aggregate annual income of Americans earning below the 90th percentile would have been $2.5 trillion higher in the year 2018 alone. That is an amount equal to nearly 12 percent of GDP—enough to more than double median income—enough to pay every single working American in the bottom nine deciles an additional $1,144 a month. Every month. Every single year.