We mustn’t speak of class warfare or the fact that the majority of us have lost. Badly.
The gulf between the richest 1% of the USA and the rest of the country got to its widest level in history last year.
The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years, according to a an analysis by economists at the University of California, Berkeley and the Paris School of Economics at Oxford University.
The richest Americans haven’t claimed this large of a slice of total wealth since 1927, when the group claimed 18.7%. The analysis is based on data from Internal Revenue Service data.
Woo-hoo! We’re number one! Party like it’s 1927. I can’t think of anything bad that happened shortly after 1927.
Keep this fact in mind when the talk of Syria starts dying down and the debt ceiling and budget come back to the foreground. I’m sure we’ll all here politicians say that we all need to make sacrifices and cut food stamps, Medicaid, Medicare, Social Security, and repeal Obamacare because the deficit gods will be angered and smite us otherwise. Keep in mind its just another path to the slaughterhouse for you and I so the folks at the top can have just a little bit more.
I’d like to think at some point that ordinary folks will realize that we’re being fleeced and form a populist movement that transcends traditional left-right boundaries, but I’m not holding my breath.