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b_b · 4057 days ago · link · · parent · post: Fast food workers receive about $7 billion in government assistance. Last year, fast food companies recorded $7 billion in profit.
I wasn't using high rates to say that they cause economic growth. Rather, that they're uncorrelated at best. The bottom 1% is a shitty place to be, but it's not where most of our problems lay. Lack of wealth in the middle class is what is making this recovery so poor. Creation of new wealth does very little when it all goes to a very few. Robert Reich has a new book on the topic that is interesting, and there's also this classic from the 80's that predicted this disaster: Mink Coats Don't Trickle Down