Wrap your minds around this, and try not to react by hurling uncontrollably. The top 1 percent captured 95 percent of the income gains in the first three years of the recovery. The next top 9 percent enjoyed a 48 percent income growth experience. The top 1 percent of American households had income above $394,000 in 2012. The top 10 percent had income exceeding $114,000. Significant economic growth is not occurring for the majority. The top 1 percent of incomes grew by 31.4 percent ‘post-recession’. The bottom 99 percent of US incomes grew only by 0.4 percent from 2009 to 2012. If we start looking at the experience of the ‘Bottom 90 Percent’, these figures indicate no real growth and obviously more and more Americans are experiencing from long term and even generational poverty… from birth onward. The idea of breaking out and making it big is contradicted from research showing successful entrepreneurs for the most part are already well-to-do white males, before becoming even more wealthy. This is not the Happiness Economy. cbsnews/8301-505123_162-57602270/income-gains-for-1-break-records/
Posted on: Wed, 11 Sep 2013 04:07:28 +0000
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