Since 2009, The Richest Of The Rich Have Captured 95% Of All Income Gains
“If you feel you’re falling behind in the income race, it’s not just your imagination. The wealth gap between the top 1% and the bottom 99% in the U.S. is as wide as it’s been in nearly 100 years, a new study finds,” the Los Angeles Times reports.
Put another way by The Week: “For the first time since the government started collecting the relevant data in 1917, the wealthiest 10 percent (earning at least $114,000 a year in 2012 dollars) is earning more than half – 50.4 percent – of U.S. income.”
An historic presidency indeed.
“Two months ago, President Obama declared that reversing income inequality must be Washington’s ‘highest priority,'” MSNBC’s Ned Resnikoff notes, “but the issue has subsequently dropped off the map again.”
Well, it’s not like Obama hasn’t had five years to prioritize his economic agenda.
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Posted on September 12, 2013