Thursday, October 23, 2008

The US redistributes wealth, from the poor to the rich

Rocky Mountain News - Campos: Wealth on move - to the rich

Generally from post-WWII until 1979 the top income earners made large multiples of 90% of the rest of the population. But since then, the top income earners have become even more wealthy, doubling and tripling their take from the rest of the US. Here are the numbers of multiples of income of 90% of the population, compared to the top 1% and top 0.1%:

Post WWII until 1979:

Top 1%.................Top 0.1%
..9x..........................21x.....

From 1979 until today

Top 1%................Top 0.1%
..19x.......................70x.....

...all relative to the bottom 90% of the population's income.

This isn't the 'natural order' of capitalism but instead the product of policies of radical wealth distribution from the poor to the super-rich.

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