Posted 8 years ago on Dec. 1, 2012, 12:04 a.m. EST by jrhirsch
from Sun City, CA
This content is user submitted and not an official statement
This is the truth the wealthy don't want you to see. During the last four decades the income for the lower 90% of working Americans has not increased. All of the increase in wealth went to the upper 10%, and the majority of that went to the upper 1%.
Those dollars you make more of every year don't really buy any more because of inflation. The dollars are literally losing value in your wallet as we speak. When you get a pay increase, it's really an illusion.
Do you see that thin blue band at the bottom of the graph? That's the income of the lower 90% of working Americans, flat since 1971. The upper 10% is represented by the light pink, medium pink, and dark pink. Notice the light pink, the top 1%, who took 60% of the increase for themselves.
Now look at the graph from 1921 to 1971. The lower 90% of working Americans actually shared 70% of the increase in income represented by the blue segment of the pie chart.
Follow this link to go to the interactive version of the graph above. Set the sliders for any two years and it will show you just where the wealth went and where it didn't.
Some people say it's the fault of the uneducated, if they only got more education they would get their fair share. But if we look at how much the incomes of the well educated have increased over the last 20 years, even they haven't shared in the wealth their educations helped produce.