Friday, January 17, 2014

Krugman: Watch Top 1%, Not Top 5%

Why We Talk About the One Percent

Frankly, I believe it is even more telling to look at the 0.1% and even the 0.01% in these comparisons.

Pundits like Brooks and his ilk who use 20%, 10% or 5% to dilute the reality are shills, intentionally attempting to deceive their audience.  And that is in large part why I viscerally despise David Brooks, and greatly appreciate the work of Krugman.  Whether or not you agree with Krugman's poliutics, he is honest.

Why We Talk About the One Percent
Many people in Washington, even those willing to concede that inequality has been rising rapidly, are uncomfortable talking about the famous 1 percent — perhaps because it sounds too populist, too much like an invitation to crowds with pitchforks. For a long time respectable discussion focused on the top 20 percent; today I see my colleague David Brooks talking about the top 5 percent.
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