UPDATE: Investor’s Business Daily: An Occupy Movement Based On 99% Lies. “In fact, the average income for the top 1% has dropped about 9% in real terms over the past decade, according to IRS data. Census data show a similar decline for top-income earners. Meanwhile, the Gini Index — a common measure of income inequality — has been almost dead flat since 2000. And to the extent that inequality has climbed over the past 30 years, it’s been in concert with economic growth, rising during the Reagan and Clinton boom years and sagging during economic slumps. . . . Sachs’ claim that Reagan’s policies punished the country with crushing unemployment is even more ludicrous. Reagan’s tax-cutting, deregulating, fiscal conservative policies propelled the economy to an unprecedented era of sustained growth. Between 1981 and 2008, unemployment averaged just 6%. Only after Obama started to undo everything Reagan achieved did unemployment spike, averaging 9.3% since he took office.”
Well, you don’t want to take economic advice from Jeffrey Sachs. Just ask the Russians.