Economy troubles? Bah, humbug! The rich are doing just fine, thank you very much.
Things are looking up…
for the moneyed class.
They are the way they are…
and that’s just the way it is.
They have the best representation money can buy…
and as far as they can see, it’s all good.
Their congressmen work hard…
but it’s not always easy.
Some info on the rich vs poor debate:
Top 1% incomes grew by 31.4% while bottom 99% incomes grew only by 0.4% from 2009 to 2012. Hence, the top 1% captured 95% of the income gains in the first three years of the recovery. From 2009 to 2010, top 1% grew fast and then stagnated from 2010 to 2011. Bottom 99% stagnated both from 2009 to 2010 and from 2010 to 2011. In 2012, top 1% incomes increased sharply by 19.6% while bottom 99% incomes grew only by 1.0%. In sum, top 1% incomes are close to full recovery while bottom 99% incomes have hardly started to recover.
— From “Striking it Richer: The Evolution of Top Incomes in the United States,” a report by Emmanuel Saez, UC Berkeley
Income inequality in the United States has grown significantly since the early 1970s, after several decades of stability, and has been the subject of study of many scholars and institutions. While inequality has risen among most developed countries, and especially English-speaking ones, it is highest in the United States…
Scholars and others differ as to the causes, solutions, and the significance of the trend, which in 2011 helped ignite the “Occupy” protest movement. Education and increased demand for skilled labor are often cited as causes, some have emphasized the importance of public policy; others believe the cause(s) of inequality’s rise are not well understood. Inequality has been described both as irrelevant in the face of economic opportunity (or social mobility) in America, and as a cause of the decline in that opportunity.
Yale professor and economist Robert J. Shiller, who was among three Americans who won the Nobel prize for economics in 2013, believes that rising economic inequality in the United States and other countries is “the most important problem that we are facing now today.”
— From Wikipedia
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