Bushmath: 300,000 = 150,000,000

what a nauseating statistic...

[N]ew analyses of 2005 tax data shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans.

Per person, the top group received 440 times as much as the average person in the bottom half earned, nearly doubling the gap from 1980.

but wait, there's more...

[G]ains went largely to the top 1 per cent, whose incomes rose to an average of more than 1.1 million dollars each, an increase of more than 139,000 dollars, or about 14 per cent.

The top 10 percent, roughly those earning more than 100,000 dollars, also reached a level of inincome share not seen since 1928, according to the report.

1928... hmmm... that rings a bell... something else happened around then, didn't it...? oh, yeah...

Stock Market Crash of 1929

Millionaire margin investors became bankrupt instantly, as the stock market crashed on October 28 th and 29 th. By November of 1929, the Dow sank from 400 to 145. In three days, the New York Stock Exchange erased over 5 billion dollars worth of share values! By the end of the 1929 stock market crash, 16 billion dollars had been shaved off stock capitalization.

To make matters worse, banks had invested their deposits in the stock market. Now that stocks were obliterated, the banks had lost their depositors money! Bank runs started, where bank patrons tried to withdraw their savings all at once. Major banks and brokerage houses became insolvent, adding more fuel to the bear market. The financial system was in shambles. Many bankrupt speculators, who were once aristocracy, commit suicide by jumping out of buildings. Even bank patrons who had not invested in shares became broke as $140 billion of depositor money disappeared and 10,000 banks failed.

just sayin'...

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