The 99 Percent: Why Are They Barely Treading Water?
"Since 1980, guess how much of the growth in income the 90% got? Nothing. None. Zero. In fact, it’s worse than that. The average family not in the top 10% makes less money than a generation ago.”
— Senator Elizabeth Warren (D-Mass.), in a January 7, 2015 speech to the AFL-CIO
Warren’s source for this claim was the leftist Economic Policy Institute, based on data from French economist Thomas Piketty and French-American Professor Emmanuel Saez of the University of California at Berkeley.
Piketty has become something of a celebrity because of his trumpeting of data about the increasing divergence in income ratios between the poor and the richest Americans. He and most other leftists blame the free market for this divergence, even though the level of government intervention in the U.S. economy has never been greater.
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