By Isabel V. Sawhill – The concentration of income and wealth in the U.S. has reached levels we have not seen since the late 1920s. The Congressional Budget office reports that incomes after taxes and transfers, adjusted for inflation, almost quadrupled (275 percent) for the top 1 percent between 1979 and 2007. By contrast, incomes for the next 19 percent rose by 65 percent; income for the middle 60 percent rose by 37 percent; and incomes for the bottom 20 percent rose by only 18 percent.
- Wipe Out (lewrockwell.com)
- Bernie Sanders: New Study Shows 93% of Income Growth Going to Top 1% in 2010 (crooksandliars.com)
- 45 Signs That America Will Soon Be a Nation With a Very Tiny Elite and the Rest of Us Will Be Poor (pointsofhype.wordpress.com)
- The Rich Get Richer – New Facts (1oneday.wordpress.com)