The poet William Stafford set himself the task of writing a poem a day. When someone asked him what he would do when his poem-of-the-day wasn't very good, he replied "I simply lower my standards." In order to increase output, the bar here is set at a low level - the point of this is to have some fun with current events and politics. I welcome contributions and comments. Now you can also follow Doggerelo on Twitter (@doggerelo). Because of continuing medical problems, I'm no longer able to post a poem-a-day. I'll continue to post poems, but at a reduced frequency, so please stay tuned.

Tuesday, April 10, 2012

The Rich Get All the Money

A recent study by Emmanuel Saez of U.C. Berkeley found that those in the top 1% of the income distribution received a disproportionate share of the new wealth generated during the economic recovery in 2010:  they received 93% of the income gains during this period.  In earlier recoveries, the proportion going to the top 1% was much lower.  The outsized transfer of wealth to an ever  smaller proportion of the population has grave implications for the future economic and political development of our nation, as discussed by Harold Myerson in the Washington Post.

The rich are getting richer.
Don’t bother asking which’re
The folks that get the dough
I’m sure you already know.
It hasn’t always been this way -
Back in an earlier day
Our wealth was better shared
By everyone compared
To now.  It seems to me
Recovery would be
Much faster if the cash, it
Didn’t go to those who stash it
But instead if they had sent it
To folks who would have spent  it.

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