The richest one percent of Americans earned a postwar record of 21.2 percent of all income in 2005, up from 19 percent a year earlier
folks, let's be clear... this is exactly the kind of income disparity that you see in many lesser-developed countries, where the moneyed elites occupy a very thin slice of the population at the very top and call the shots for all the rest of us... we're headed there damn quick...
stop for a moment and really think about those percentages... they're staggering... ONE PERCENT of the population earns TWENTY-ONE POINT TWO PERCENT of the income... FIFTY PERCENT earns THIRTEEN POINT EIGHT PERCENT... phew... now THAT'S come income gap...
i had the opportunity to get to know and observe one or two of the moneyed elites in mexico several years ago... among them, they literally own the entire country - retail businesses, apartment buildings, hotels, resorts, food production and distribution, transportation, banks - and control the politicians, government officials, the military and law enforcement from the sidelines... (stop me if any of this sounds familiar...) i can remember talking to a gentleman while we were sitting on the beach one day... he and his companion traveled the world, going from one delightful resort to another, all places where they owned large chunks of real estate, and staying in their own villas or condos... once or twice a day, he would call his office for the sole purpose of seeing if his money was busy and working hard for him from dawn to dusk... what a life, eh...?
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The richest one percent of Americans earned a postwar record of 21.2 percent of all income in 2005, up from 19 percent a year earlier, reflecting a widening income disparity among different classes in the nation, the Wall Street Journal reported, citing new Internal Revenue Service data.
The data showed that the fortunes of the bottom 50 percent of Americans are worsening, with that group earning 12.8 percent of all income in 2005, down from 13.4 percent the year before, the paper said.
stop for a moment and really think about those percentages... they're staggering... ONE PERCENT of the population earns TWENTY-ONE POINT TWO PERCENT of the income... FIFTY PERCENT earns THIRTEEN POINT EIGHT PERCENT... phew... now THAT'S come income gap...
i had the opportunity to get to know and observe one or two of the moneyed elites in mexico several years ago... among them, they literally own the entire country - retail businesses, apartment buildings, hotels, resorts, food production and distribution, transportation, banks - and control the politicians, government officials, the military and law enforcement from the sidelines... (stop me if any of this sounds familiar...) i can remember talking to a gentleman while we were sitting on the beach one day... he and his companion traveled the world, going from one delightful resort to another, all places where they owned large chunks of real estate, and staying in their own villas or condos... once or twice a day, he would call his office for the sole purpose of seeing if his money was busy and working hard for him from dawn to dusk... what a life, eh...?
Labels: elites, income gap, Mexico, poverty
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posted by profmarcus at
10/12/2007
