The cheerleaders for “Economic Growth” like to remind us that the best way for working class Americans to take home a bigger pay check is for economic growth to grow the whole pie. And even if their %age share of the pie doesn’t grow, as long as the pie grows they will take home a bigger piece of the pie. Which is probably true. After all, “A rising tide lifts all boats” (attributed to John F Kennedy, fgodsake!).
But is this fair? Is it fair that when the pie grows, the top earners keep most of the extra pie while workers only get crumbs? “Hey, a bigger pay check is a bigger pay check! What business is it of yours that your portion (%age) of the pie isn’t bigger as long as the size of your portion (raw $’s) is bigger?”
