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Bad Trend Alert
Published on October 27, 2011 by Sara Foss

Apparently the top one percent of earners more than doubled their share of the nation's income over the past three decades.

According to the New York Times, "...from 1979 to 2007, average inflation-adjusted after-tax income grew by 275 percent for the 1 percent of the population with the highest income. For others in the top 20 percent of the population, average real after-tax household income grew by 65 percent.

By contrast, the budget office said, for the poorest fifth of the population, average real after-tax household income rose 18 percent.

And for the three-fifths of people in the middle of the income scale, the growth in such household income was just under 40 percent."

So I don't get it - what exactly are the Wall Street protesters angry about? I'm so confused by their incoherent message!

 

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