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Richest 1 Percent Account For Nearly All Of U.S. Recovery's Gains

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opednews.com Headlined to H2 3/7/12

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Technically, the economy has been in recovery for two years. But it turns out the rich have been doing most of the recovering. In 2010 -- the first full year since the end of the Great Recession -- virtually all of the income growth in America took place among the country's very wealthiest people, says an economist at the University of California, Berkeley. The top 1 percent of earners took in a full 93 percent of all the income gains that year, leaving the other 7 percent of gains to be sprinkled among the vast majority of society.
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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