Wealthiest 1% of Americans hog 90% of all gains in income: "today, the gulf between rich and poor is the widest it has been in nearly 70 years. The percentage of national income going to the middle class has also shrunk. Since 1980, the average after-tax income of the wealthiest 1% rose by more than 200%, increasing by $567,000 in real dollars. In stark contrast, the average after tax income of middle-income households rose by only 15% during the same period, increasing by just $5,500. And the average after-tax income of the working poor rose by an even smaller percentage, just 9%, growing by a mere $1,100.
In fact, in recent years, 90% of all gains in personal income have gone to the wealthiest 1% of Americans. The number of Americans living in poverty is growing."
- posted by geoff @ #