Many people might think that the country's problems stem from the fact that too much money has been going to the very rich. Over the last three decades, the richest 1 percent of the population has increased its share of national income by almost 10 percentage points. This comes to $1.5 trillion a year, or as the deficit hawks are fond of saying, $90 trillion over the next 75 years.
To put this in context, the size of this upward redistribution to the richest 1 percent over the last three decades is roughly large enough to double the income of all the households in the bottom half of the income distribution. The upward redistribution amounts to an average of more than 1.2 million dollars a year for each of the families in the richest 1 percent of the population.
2 comments:
This is pure Marxist propaganda-- class warfare.
Doesn't capitalism have a "class-warfare" component? No matter how the stats are viewed, it is undoubtedly true that the rich are getting richer, while the middle class shrinks more and more...When the Walton family has 4 of the richest people (out of the 15 richest) in the U.S., but claim they can't afford to hire full time workers or give their employees affordable health insurance, well, something is wrong with that picture. When 400 of the richest Americans have more wealth than the combined wealth of the rest of us, something is wrong. It may be the tax structure, it may be regulatory in nature, I don't know. But there is something definitely wrong....our leaders want US (everyday citizens) to "sacrifice", to concede to cuts in SSI, medicare, home values, pay structures, benefits, etc., but don't want to give up ANYTHING that THEY have. Class warfare? It's here.
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