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New numbers: Income for top 1 percent skyrocketed over last 30 years
10-26-2011, 11:47 PM #1
Kreeper Griobhtha
Posts:11,022 Threads:760 Joined:Feb 2011
New numbers: Income for top 1 percent skyrocketed over last 30 years


As the chart at right shows, between 1979 and 2007, the share of after-tax income going to each of the bottom four income quintiles--the bottom 80 percent--has dropped. The only quintile that has increased its share is the top 20 percent. And the top 1 percent has more than doubled its share.

That top 1 percent saw its income skyrocket by 275 percent. Those between the 80th and 99th percentile--that is, the top 20 percent, excluding the very top 1 percent--also did pretty well, seeing their income rise by 65 percent. Income for the bottom 20 percent, meanwhile, grew by just 18 percent.

One reason for the growing gap, the report said, is the impact of government transfer programs. Back in 1979, the poorest 20 percent of the population received 50 percent of all government transfers. By 2007, that had dropped to 35 percent, thanks largely to increases in spending on Social Security and unemployment benefits, which aren't focused exclusively on poor households.


What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
10-27-2011, 12:26 AM #2
Octo Mother Superior
Posts:41,167 Threads:1,571 Joined:Feb 2011
I reckon it's that very same 1 per cent that make the rules gaah.gif
10-27-2011, 12:42 AM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,202 Threads:1,487 Joined:Feb 2011
We have our lawmakers and lobbyists to thank for this mess, things are going back to feudal system where those at the top possess everything.
I guess they don't recall history well because most of those scenarios ended up with decapitated kings.




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