Gap between Wealthy and Middle Class Widens Again!

I didn’t say it, but we’d better all start thinking about it and worrying about it!”
by Charlie Leck

“Income inequality of the scale we have today is destroying our democracy.”
[Bob Crandall, retired CEO of American Airlines]

“The 1.2 million households whose incomes put them in the top 1 percent of the U.S. saw their earnings increase 5.5 percent last year… Earnings fell 1.7 percent for the 96 million households in the bottom 80 percent – those that made less than $101,583.”
[Peter Robison, Bloomberg News]

“In 2010, the top 1 percent of U.S. families captured as much as 93 percent of the nation’s income growth.”
[Emmanuel Saez, University of California economist from his study of IRS data]

I remembering lecturing my girls about home ownership; and telling them that buying a house would be the single-most important investment they would make. It’s no longer true. Since 2006 there has been a 5.8 trillion dollar loss in home values.

_________________________

Why not become a follower?
If you read my blog regularly, why not become a follower? All you have to do is click in the upper right hand corner and establish a simple means of communication. Then you'll be informed every time a new blog is posted here. If all that's confusing, here's Google's explanation of how to do it! If you don’t want to post comments on the blog, but would like to communicate with me about it, send me an email if you’d like.