This appeared in yesterday's Business section of the NY Times. Someone once told me that you should always read the business section of all newspapers because it was amazing how much real news you would get there, with no slanting, and also, how many of the stories that appeared in the business sections, would later grow into huge stories, and sometimes, scandals. And actually it was good advice.
I haven't seen anyone mention this on television or anywhere yet, so I thought I would start a little class warfare by rudely noticing that this adminstration's policies wage class warfare.
Income Gap Is Widening, Data Shows
By DAVID CAY JOHNSTON
Income inequality grew significantly in 2005, with the top 1 percent of Americans — those with incomes that year of more than $348,000 — receiving their largest share of national income since 1928, analysis of newly released tax data shows.
The top 10 percent, roughly those earning more than $100,000, also reached a level of income share not seen since before the Depression.
While total reported income in the United States increased almost 9 percent in 2005, the most recent year for which such data is available, average incomes for those in the bottom 90 percent dipped slightly compared with the year before, dropping $172, or 0.6 percent.
The gains went largely to the top 1 percent, whose incomes rose to an average of more than $1.1 million each, an increase of more than $139,000, or about 14 percent.
The new data also shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans. Per person, the top group received 440 times as much as the average person in the bottom half earned, nearly doubling the gap from 1980.
http://www.nytimes.com/2007/03/29/business/29tax.html?pagewanted=print
I haven't seen anyone mention this on television or anywhere yet, so I thought I would start a little class warfare by rudely noticing that this adminstration's policies wage class warfare.
Income Gap Is Widening, Data Shows
By DAVID CAY JOHNSTON
Income inequality grew significantly in 2005, with the top 1 percent of Americans — those with incomes that year of more than $348,000 — receiving their largest share of national income since 1928, analysis of newly released tax data shows.
The top 10 percent, roughly those earning more than $100,000, also reached a level of income share not seen since before the Depression.
While total reported income in the United States increased almost 9 percent in 2005, the most recent year for which such data is available, average incomes for those in the bottom 90 percent dipped slightly compared with the year before, dropping $172, or 0.6 percent.
The gains went largely to the top 1 percent, whose incomes rose to an average of more than $1.1 million each, an increase of more than $139,000, or about 14 percent.
The new data also shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans. Per person, the top group received 440 times as much as the average person in the bottom half earned, nearly doubling the gap from 1980.
http://www.nytimes.com/2007/03/29/business/29tax.html?pagewanted=print
Puts on Topsin hat: