9.28.2010

this war, that war, class war, last war

The Republican stand is: Either the rich get to keep their tax cut, no one does. And if you don't agree with this, you are waging class war. And it's understandable, because, really the while the income gap may be at the largest margin ever, the rich do not yet own everything. And that is a tragedy.
The top-earning 20 percent of Americans - those making more than $100,000 each year - received 49.4 percent of all income generated in the U.S., compared with the 3.4 percent earned by those below the poverty line, according to the newly released Census figures. That ratio of 14.5-to-1 was an increase from 13.6 in 2008 and nearly double a low of 7.69 in 1968.

A different measure, the international Gini index, found U.S. income inequality at its highest level since the Census Bureau began tracking household income in 1967. The U.S. also has the greatest disparity among Western industrialized nations.
At the top, the wealthiest 5 percent of Americans, who earn more than $180,000, added slightly to their annual incomes last year, government data show. Families at the $50,000 median level slipped lower.

 
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