Lots of
us are laughing at AOC’s idiotic Green New Deal “plan.” Tea Party people want
smaller, not bigger government. Mr. Instapundit linked to a timely analysis by
Chelsea Follett at Human Progress:
“The rich are getting richer and
the poor are getting poorer.” Senator Bernie Sanders first said those words in 1974 and has been repeating them ever since. Senator Sanders is not
alone in his belief. Three out of four Americans agree with the statement,
“Today it’s really true that the rich just get richer while the poor get
poorer.”
Senator Sanders is half right: the
rich are getting richer. However, his assertion that the poor are
becoming poorer is incorrect. The poor are becoming richer as well.
Economist Gary Burtless of the
Brookings Institution showed that between 1979 and 2010, the real
(inflation-adjusted) after-tax income of the top 1 percent of U.S.
income-earners grew by an impressive 202 percent. He also showed that the real
after-tax income of the bottom fifth of income-earners grew by 49 percent. All
groups made real income gains. While the rich are making gains at a faster
pace, both the rich and the poor are in fact becoming richer.
In addition to these measurable
real income gains, decreases in prices have given the poor increased purchasing
power, helping to raise living standards for the worst off in society. As a
result of falling prices such as for groceries and material goods,
along with gains in real income, Americans have more income left
after basic expenses.
Technology has also become cheaper,
improving our lives in unexpected ways. For example, consider the spread of
cell phones. There was a time when only the
wealthiest Americans could afford one. Today, over
98 percent of Americans have a cellular subscription, and the
rise of smart phones has made these devices more useful than ever.
Unfortunately, progress has been
uneven. In those areas of the economy where competition is hobbled, such as
education, housing, and healthcare, prices continue to increase.
. . .
“Competition
is hobbled” whenever the government intrudes. Ms. Follett's full article is here. (And Solyndra is now defunct.)
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