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Forum Post: Don't complain about income disparity __WITHOUT THIS__

Posted 10 years ago on Dec. 13, 2011, 7:37 a.m. EST by bensdad (8977)
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[-] 1 points by JadedCitizen (4277) 10 years ago

There is a couple of graphs on this page showing 1) bank market share 2) If US land were divided like US wealth. sorry, I don't know how to post pic or I would.


[-] 1 points by ModestCapitalist (2342) 10 years ago

These images are too fuzzy to make out but I've seen them before. They indicate that incomes have skyrocketed for the richest one percent and rose to some degree for the vast majority. However, they fail to indicate the HUGE difference between core inflation and the actual cost of living, which by the way, is tied directly to record high incomes for the richest one percent.

When its all said and done, the richest one percent have more than doubled their actual buying power over the last 30 years. They have also more than doubled their share of all private wealth held in America. They now own more than 40 percent. Over the same time frame, the lower majority of us have ended up working more hours on average with less actual buying power to show for it. We have lost trillions in free and clear assets.

All of this true even after you account for taxes, charity, and financial aid.

Bottom line: When the rich get too rich, the poor get poorer. It was true 80 years ago. Its true now.