Wednesday, October 26, 2011
More on the rich getting richer
More from the Congressional Budget Office's latest report on income and wealth in the US between 1979 and 2007. As shown on this chart, most income groups have barely grown richer since 1979. But the top 1 percent has seen its income nearly quadruple. (Click on chart to see larger view):
That bears repeating: The top, wealthiest 1% of the nation has seen its income nearly quadruple. So while the middle- and lower-classes are losing their homes or not able to send their children to college or other, myriad unthinkables--like being "food insecure"--the wealthy can take more trips to the South of France or buy that fifth or sixth home, probably to avoid us, the "little people." If you think about this, too, you realize the worst data may have yet to come out, too, regarding the wealthy getting more rich since George W. Bush's and the Republican's tax cuts for the wealthy wouldn't have fully been taken into consideration, from 2007 to now. Feel sick yet?
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