Published on Feb 9, 2014
PROVIDED BY CNNNEXT.COM
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"Conservatives like to say that "a rising tide lifts all boats." In other words, if an executive makes $20 million a year, his income will eventually trickle down into the rest of the economy and ultimately benefit poor people.
But that theory hasn't exactly proven true.
The highest-earning 20 percent of Americans have been making more and more over the past 40 years.
Yet no other boats have risen; in fact, they're sinking.
Over the same 40 years, the lowest-earning 60 percent of Americans have been making less and less.
The chart comes from the Stanford Center on Poverty and Inequality's recently released 2014 report.
The researchers looked at rising poverty and inequality in the U.S., particularly since the 2007-2008 recession."* Cenk Uygur, Dave Rubin, Ben Mankiewicz and Jimmy Dore (The Jimmy Dore Show) break it down.
