In this episode we discuss a recent working paper from the RAND Corporation that highlights how incomes for most Americans have stagnated over the past 50 years. Were income to grow commensurate with overall economic growth, the bottom 90% of income earners in America would collective have 67% higher income, more than $2.5 trillion a year. Most of the income growth over the past 50 years has been concentrated in the hands of the wealthiest. You can read the report here: https://www.youtube.com/redirect?v=u1LOgq3TAHwandevent=video_descriptionandredir_token=QUFFLUhqbVN5Sy1fRFJfcnZYU05iYWFZcTMwbVRiZ3hqZ3xBQ3Jtc0tsaWhOYU0tWC1saGZZaURrcENaN0NGUTFWYWhtNTNfaHJfX3BWT3l3QTlzTXp2R3VHZERwT2lfSlk1UUc3M0lyeDd6SnZBSUtWM0J2Z3hudGlnS0VLZTVwVXhseklfcVQ1LVI1RTBMdmRaTjFRa3dCSQ%3D%3Dandq=https%3A%2F%2Fwww.rand.org%2Fpubs%2Fworking_papers%2FWRA516-1.html (https://www.rand.org/pubs/working_pap...).
While the authors don't speculate on the causes for this income stagnation and concomitant rising inequality, we offer our own take: neoliberal capitalism.
At the end, we also discuss the Republican Party's jaw-dropping and democracy-killing hypocrisy of nominating a Supreme Court Justice with one month until the election, something they refused to do for President Obama nine months before the election in 2016.
Thanks for joining us.