Share on Google Plus Share on Twitter 3 Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (4 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   No comments

The Richest 1% Captured 93% Of Income Gains In 2010

Quicklink submitted By       Message Amanda Lang     Permalink
Related Topic(s): ; ; ; ; , Add Tags

View Ratings | Rate It

opednews.com Headlined to H3 3/5/12

Author 5
Become a Fan
  (9 fans)
Image uploaded from a quicklink
The top 1% captured 93% of the income gains in the first year of recovery. The bottom 90% of Americans lost $127, the bottom 99% of Americans gained $80, and the top 1% gained $105,637.
(image by Voluntary Amputation for Flickr)
  License   DMCA
Though the economy is slowly recovering from the Great Recession, large swaths of the American public are still bogged down by joblessness, underwater mortgages, and falling incomes. In fact, "between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909."
But as the Roosevelt Institute's Mike Konczal pointed out, 2010, the first full year of the recovery, was very good for America's richest 1 percent. In fact, that year the richest 1 percent captured 93 percent of the nation's income gains...

Read the rest of the story HERE:

At thinkprogress.org

- Advertisement -
- Advertisement -