[When my brother was president] “The top earning q percent of Americans earned about 10 percent of the total income earned by all Americans. Today, that 1 percent has doubled their share – they now earn 20 percent of total American income. I never imagined when I became a senator that income inequality would return to the levels of 1929, but that is exactly what has happened.”
“We have more children living in poverty than any other nation in the developed world. Middle-income families are under constant strain because their basic costs have risen far faster than their income, even when both parents work. Such costs include providing higher education for their children, living in neighborhoods with first class public schools, maintaining adequate health insurance, or buying a car. It is time to stop making excuses and make sure the economy works for all of us again.”
49.9 percent of all bachelor degrees awarded In 2000 in Science, Math, Computer Technology and Engineering were to China. The US was ninth in the world with 15.4 percent. The reason is that US industry rewards people with degrees in Science and Engineering with less income than those with degrees in law and business.
“in a time of already extraordinary income inequality, it is especially unfair to bestow lavish new tax breaks on the wealthy. Americans do not want a tax code in which average citizens pay twice as much tax on their weekly wages as millionaires pay on their stock market gains.”
It’s an interesting book.
For balance, I previously quoted Eisenhower.