It used to be that economic expansions improved the incomes of the bottom 90 percent more than the top 10 percent.
But starting with the “Reagan” recovery of 1982 to 1990, the benefits of economic growth during expansions have gone mostly to the top 10 percent.
Since the current recovery began in 2009, all economic gains have gone to the top 10 percent. The bottom 90 percent has lost ground.
We’re in the first economic upturn on record in which 90 percent of Americans have become worse off.
We are an efficient society. Those efficiencies have gone mostly to the top 1% by the greedy CEO-class using stagnant overall wages, low minimum wages, and outsourced labor en masse. Our society has squeezed every last drop out of the working classes.
A broad recovery is forbidden by the CEO-class.