By Derek Thompson – During the Great Recession, the 1% absorbed half of total income losses between 2007 and 2009. But in the first year of the recovery, the top percentile won 93% of all income gains.
As for this recession, Tim Noah puts it beautifully: This recovery has been a luxury item. For the bottom 99%, real income growth over the first two years of the recovery was one-fifth of one percent. The richest percentile saw its income rebound by 11.6%. It is only slightly sensational to point out that the 1%’s income has outgained the rest of the economy by a factor of 58 in the recovery. more> http://tinyurl.com/79e2sly
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- The Richest 1 Percent Captured 93 Percent Of Income Gains In 2010 (thinkprogress.org)
- New Study Shows How The 1% Got 93% Of The Income Gains During The Great Recovery (businessinsider.com)
- The income-adjusted cost of living in New York, Andrew Schiff edition (blogs.reuters.com)
- The 1% Had a Fantastic 2010 (rortybomb.wordpress.com)
- Top one per cent pocket 93 per cent of US dosh (rt.com)
- Why The Economic Recovery Hasn’t Felt Like One For The 99 Percent (CHARTS) (alternet.org)
- Why The Economic Recovery Hasn’t Felt Like One For The 99 Percent (CHARTS) (tpmdc.talkingpointsmemo.com)
- Recovery Leaves 99 Percent Poorer (reason.com)
- The Rich Are Rebounding Nicely, Thank You Very Much (motherjones.com)
- Income inequality: 1 percent still going strong (cbsnews.com)
Reblogged this on Kmareka.com and commented:
Welcome to the Recovery. Unfortunately, this item is only available to those riding in First Class.