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Tuesday, July 26, 2011

Beyond The Top One Percent | ThinkProgress

Beyond The Top One Percent | ThinkProgress

Beyond The Top One Percent

John Quiggin makes the case thatredistribution of income away from the top 1 percent is essentially the only thing that matters in American politics. After all, as Willie Sutton said, “that’s where the money is.”

I’m all for that, but I really do think it’s an unduly limited view of political life. Even with several decades of median wage stagnation, the fact of the matter is that the median American household has quite a lot of money compared to the median household of almost every other country. And yet, I think there are a lot of other respects in which quality of life in the United States falls short. We spend a lot of time in traffic jams. We have both a