The Destruction Of The Rest Of Us

June 19, 2011

News On The Net

The Washington Post had a disturbing look at escalation of wealth from the middle class and working poor over the last four decades.  Data was kept from 1970 to 2008, and showed that the bottom 90% of earners in America consisted of 137 million people and that during that time frame, that group saw their income decrease by 1%.  Over that same time period, the top 1% of earners consisted of 6 million people and that group saw their income increase 59%.  The wealthiest of the wealthy, consisted of roughly 150,000 people or .01%, saw their income increase 385% over the same time period.

This easily put the United States as the nation leading the pack when it comes to wealth being controlled by the top .01% over that time period.

Top executive pay over the time period has skyrocketed, while the pay many of us receive, has remained stagnant.

If forty years of data is not enough, I would hate to see what the next forty years of this failed experiment might bring.  This is unsustainable and people must step up and fight back against this destruction of the middle class and working poor.

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