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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRichest 1 Percent Account For Nearly All Of U.S. Recovery's Gains: Report
Last edited Fri Mar 16, 2012, 10:43 AM - Edit history (1)
http://www.huffingtonpost.com/2012/03/05/1-percent-income-inequality_n_1321008.htmlRichest 1 Percent Account For Nearly All Of U.S. Recovery's Gains: Report
Huffington Post
Technically, the economy has been in recovery for two years. But it turns out the rich have been doing most of the recovering.
In 2010 -- the first full year since the end of the Great Recession -- virtually all of the income growth in America took place among the country's very wealthiest people, says an economist at the University of California, Berkeley. The top 1 percent of earners took in a full 93 percent of all the income gains that year, leaving the other 7 percent of gains to be sprinkled among the vast majority of society.
Those numbers come courtesy of Emmanuel Saez, the Berkeley economist who co-created a resource known as the World Top Incomes Database. Saez and his colleagues crunched the data on income growth from 2010, the most recent year available, and found that it was shockingly lopsided.
While much of the country is simply treading water, with a growing number of people either edging toward poverty or already there, the richest of the rich seem to be coping nicely...
No, things are not getting better for most Americans. The one percent continue to thieve from and impoverish us through BOTH parties of this government that they have purchased. Occupy now, because they are stripping away our civil rights and putting structures into place to prevent occupation later. Change is not coming from within this diseased, purchased system. We must occupy now. It has never been more important.
DirkGently
(12,151 posts)Tennessee Gal
(6,160 posts)The rich get richer.
firehorse
(755 posts)Curmudgeoness
(18,219 posts)Last edited Tue Mar 6, 2012, 06:50 PM - Edit history (1)
Don't you feel like you are being pissed on?
woo me with science
(32,139 posts)Initech
(100,099 posts)woo me with science
(32,139 posts)wiggs
(7,816 posts)with talk of evil contraceptives, planned parenthood, employer veto of health care, etc.
woo me with science
(32,139 posts)We are being impoverished and stripped of our civil rights by the one percent in both parties. We will have two candidates this fall who will both continue this march toward corporate fascism. It has never been more important that we stand up and resist, because they are putting structures into place to prevent occupation in the future. The surveillance state is growing, our police departments are being militarized, our civil rights are under constant assault, and the one percent continue to impoverish us, even under this Democratic Party President. The "recovery" touted by our party is not benefiting the 99 percent. It is enriching the oligarchs, and there is no end in sight. Occupy is the only real hope on the horizon, because change will not come from inside this diseased, purchased system.
http://www.democraticunderground.com/1002388577
Of course it benefits all of them that we are distracted by Rush Limbaugh.
Occupy now. It has never been more important.
hifiguy
(33,688 posts)water is wet, and Repiglicans are greedy, reactionary assholes. Film at 11.
woo me with science
(32,139 posts)This is the one percent in both parties against the rest of us. Change is not coming from within this diseased, purchased system. We must occupy.
SoCalDem
(103,856 posts)Average income of a street.
street has 2 houses
House #1 has income of 1 million
House # has unemployed person w/no "income"
average income of street 500K.
Rex
(65,616 posts)out very well for the 1%. Must be nice.