Workers’ share of U.S, national income is collapsing:
David Frum asks:
Two questions for the Republican presidential candidates:
1) Is this a problem?
2) If yes, what can be done about it?
I’d want to ask the Democratic presidential candidate he same thing. But I’m sure that the Republicans will all say it’s not rally a problem but that to the extent it is, we only need to drastically cut entitlements and lower taxes on the "producers" and all will be well. When have they ever said anything else in the last 30 years?
This is a tough question, however, for those who might truly want to solve the problem. And unfortunately, in the age of Citizens United, the political incentives are all going the wrong way as well. Wealth concentration makes the system lean ever further in that direction.
That’s a very scary chart for a country that has long had a pretty stable society and a thriving middle class. Even in the gilded age there was still something of a frontier and vast entrepreneurial opportunity. I don’t know where this ends up.