Richarddwolff
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Income Inequality Increases More After Government Redistribution - Professor Richard D Wolff
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December 11, 2011
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5:57Now PlayingPUBLISHED ON NOVEMBER 8, 2011
The Congressional Budget Office release a report revealing that income inequality between the top 1% and top 99% has (unsurprisingly) increased between 1979 and 2007. According to the report, the top 1% nearly doubled their income and the brunt of this is born by the middle class. Furthermore, after factoring in government "redistribution," statistics show that the income inequality is worse. The claim that the government redistributes income from rich to poor is not the case--it is the other way around.
From "Global Capitalism: A Monthly Update and Discussion - November 2011"
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