Speak, money—By Roger D. Hodge (Harper's Magazine)

Speak, money—By Roger D. Hodge (Harper's Magazine): "The corruption of our institutions manifests itself in a variety of ways, but in none so dramatic as the imbalance of national wealth, which in recent decades has shattered records formerly set in the late 1920s. Although it is often claimed that the gap between rich and poor began decisively to widen in the late 1970s, as if to absolve Ronald Reagan for what his followers no doubt count as his primary accomplishment, the total share of income of the wealthiest 10 percent of American families was well within the postwar norm until 1982, when Reagan’s policies began a massive, decades-long transfer of national wealth to the rich. Under Bill Clinton, who shamelessly appropriated the Reaganite agenda, the transfer was even more dramatic, as the top 10 percent captured an ever growing share of national income."