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The income of the top 10 percent

Striking It Richer: Emmanuel Saez

Charts like the one above help make it clear why the right wing hates — and fears, and demonizes — progressive economic policies like those advanced by Franklin Roosevelt during the Great Depression. Those policies left us with plenty of rich people, but the rich could no longer take it all. That, of course, is how the American middle class arose after World War II. By the beginning of the Reagan era, the rich got the upper hand again and started taking it all back.

Emmanuel Saez has newly updated data showing that the top 1 percent captured 93 percent of the income gains in 2010.

And yet, thanks to the right-wing propaganda machine, white working Americans in the red states are kept in a state of deep ignorance and cheer for and vote for their continuing impoverishment and marginalization.

Update: The Huffington Post has a story on this today.

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