Trickle-Down Economics in a Half-Decent Economy

ACADEME BLOG

Writing for the Washington Post’s Wonkbook blog, Jim Tankersley reports some good news for the American middle class, but it is wrapped inside some continuing bad news about growing income inequality:

“The vast majority of American workers are finally seeing their incomes rise from the depths of the Great Recession, a new analysis from one of the world’s leading scholars of economic inequality suggests. But incomes for the top 1 percent continue to rise substantially faster.

“The analysis of Internal Revenue Service data on pre-tax earnings, from UC-Berkeley economist Emmanuel Saez and published by the Washington Center for Equitable Growth think tank, finds incomes increased by 3.9 percent last year for the bottom 99 percent of U.S. families. That’s the strongest growth those workers have seen since 1998, but it’s still not enough to repair all the damage the recession wrought on those workers: As Saez notes, those families on…

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