Krugman tries to move on, stumbles
Paul Krugman is back to discussing income inequality on his blog, following a very negative reaction to his disgraceful column on the Tucson shootings, in which he led a left wing chorus arguing that Gabrielle Giffords was brought down by a gunman undoubtedly influenced by Arizona's climate of hate, engendered by talk radio, Sarah Palin, Fox News, and other assorted villains on the right.
Krugman, and his fellow Times op ed writer Nicholas Kristof always argue that income inequality is a bad thing, and grew rapidly due to the policies of President George W. Bush who favored the wealthiest of Americans with his tax cut programs. Notice, however that the top 1% as far as incomes, reached an income share of just over 21% of total income in the year 2000, following a swift rise in this share during the 8 years when Bill Clinton was President. In 1992, the top 1% earned about 15% of total income, so the top 1% had their income share grow from 15% to 21% in 8 years.
Graphic by Big Bur Hat of iOwnTheWorld