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Forum Post: New numbers: Income for top 1 percent skyrocketed over last 30 years

Posted 12 years ago on Oct. 26, 2011, 2:49 p.m. EST by Cathain (18) from North Pole, AK
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"So you already know that the gap between rich and poor has been widening lately. But some new numbers from the Congressional Budget Office put the issue into stark relief.

As the chart at right shows, between 1979 and 2007, the share of after-tax income going to each of the bottom four income quintiles--the bottom 80 percent--has dropped. The only quintile that has increased its share is the top 20 percent. And the top 1 percent has more than doubled its share......"

http://news.yahoo.com/blogs/lookout/numbers-income-top-one-percent-skyrocketed-over-last-153005722.html

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3 Comments


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[-] 1 points by Cathain (18) from North Pole, AK 12 years ago

The point is not that they have more, the point is that they are using it to game the system in their favor. 'One person, one vote' has essentially disappeared in the sense that the wealthy and major corporations now use their money to influence legislation that effects me. Yet I, with limited funds, can now no longer counter such an influence.