Republican Economic Theory does not work and play well with facts. Follow the link and read the whole thing. From the Neiman Watchdog:
Because it can have an effect on political stability, income inequality is one of the economic indicators tracked worldwide by the Central Intelligence Agency. Its current
World Factbook puts the United States just inside the most unequal third among 184 nations, between Uruguay and Cameroon. Immediately below the USA and Cameroon in the rankings – that is more equal — are Ivory Coast, Iran, Nigeria, Guyana, Nicaragua, and Cambodia.
. . . California professor, G. William Domhoff of Santa Cruz, looks at the increasing concentration of wealth rather than income. By 2007, he reported, only 20 percent of the people owned 85 percent of the wealth in the United States. When he looked at pure financial wealth (leaving out the value of your home), the top 20 percent had a 93 percent share, leaving only seven percent for the rest of us.
One more time, Truman was right.