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Thursday, September 24, 2015
Great Gains for the Rich by Thomas Rigins
According to the Economic Policy Institute, as reported by the Debs Foundation Newsletter (Fall 2015), the following figures represent the real increase in income of the various levels of the U.S. population over the last 30 years: both Democrats and Republicans have controlled the government during this period.
The top 1% saw an increase of 153.6%
The next level, the 95 to 99% increased their income by 61.6%
Then the 90 through 94% went up 39.2%
That takes care of the top 90%. The super winners were the top 1%.
Now for the rest of us -- the bottom 90%: how much trickled down to us?
We got a wopping 17.2% increase in real income over the last 30 years no matter who was running the country. Is there any reason to think this disparity will be any less (or maybe more) over the next 30 years?