This is the article that Paul Krugman was talking about writing when I was at the Social Studies Teacher's conference in October. If you want to understand my normative economics reference point in class, read it. It is from the balanced perspective of Rolling Stone Magazine, the good people that report on President Bush. I will put up a rebuttal from the other side as soon as I can find one that makes honest sense, and with a straight face.
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This article helps illustrate the growing difference in wealth of the rich and the poor. During the great depression a very small percentage of citizens had a very large percentage of money. In other words, the rich were very rich and the poor were very poor. This is clearly a sign of a stagnant economic. We are not at that point yet, but according to this article we are well on our way. Bush's tax breaks for the rich only widen the gap between the incomes of the rich and poor. Hopefully economists can stop this pattern, but as of right now, the gap continues to increase.
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