In a column helpfully titled “Scary New Wage Data,” economist David Cay Johnston looks at wage and employment trends and concludes the obvious: middle- and low-income wages are stagnant or declining, while upper-income wages are booming. The trickle-down theory is a load of crap, in other words.
It’s a long piece, but well worth your time. The bottom-line is that in their frenzy to get re-elected, politicians of every stripe have sold working-class Americans down the river.
