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Increasing the Number of Republicans in Congress Means Billions More for the 1 Percent, Study Shows

There's a direct correlation between the composition of Congress and the richest Americans' share of pre-tax income.

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"With a decrease in union membership, workers' wage bargaining power diminishes and this can increase firms' market value and their profitability,” wrote the scholars. “A higher market value often translates into higher stock prices and executive compensation, thereby shifting income toward the top."

The study flies in the face of the commonly held belief that presidents manage the economy. As people like economist Dean Baker have been saying for some time, there is no naturally occuring “free market” – the rules of the game determine who wins, who loses and by how much, and those rules are shaped first and foremost by the legislative branch.

Joshua Holland is Senior Digital Producer at BillMoyers.com, and host of Politics and Reality Radio. He's the author of The 15 Biggest Lies About the Economy. Drop him an email or follow him on Twitter

 
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