In 1979 the richest 1% of Americans earned 9% of all US income. Now they earn 24% of all US income. 1% of Americans earn nearly 1/4th of all the income in the country.
From 1990 to 2005, adjusted for inflation, the minimum wage is down 9%, while production workers' pay is up only 4.3% - over fifteen years.
At the same time, the rich get richer:
Corporate profits are up 106.7%.
The S&P 500 is still up 141.4% since 1990.
CEO compensation is up 282%.
Call it transfer of wealth. Or call it class warfare.
"Children from low-income families have only a 1 percent chance of reaching the top 5 percent of the income distribution, versus children of the rich who have about a 22 percent chance.
"Children born to the middle quintile of parental family income ($42,000 to $54,300) had about the same chance of ending up in a lower quintile than their parents (39.5 percent) as they did of moving to a higher quintile (36.5 percent). Their chances of attaining the top five percentiles of the income distribution were just 1.8 percent."
:sad::sad::sad:Won't somebody please think of the rich?:sad::sad::sad: