Richest 1 percent of Americans are collecting biggest share of household income since the '20s

  • Article by: PAUL WISEMAN , Associated Press
  • Updated: September 10, 2013 - 2:35 PM

WASHINGTON — The gulf between the richest 1 percent and the rest of America is the widest it's been since the Roaring '20s.

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Packman_1Sep. 10, 1312:00 PM

Good thing this correlates directly with the number of people these 'job creators' hire...

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ToddWSep. 10, 1312:09 PM

How dare they work hard to make a fortune. Where's my pitchfork?

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jepop90Sep. 10, 1312:15 PM

"Last year, the incomes of the top 1 percent rose 19.6 percent compared with a 1 percent increase for the remaining 99 percent." ...........Just shows how when you hold all of the cards you can rig the game in your favor. Thanks to Citizens United and the Koch brothers this tend will continue.

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capsule2Sep. 10, 1312:43 PM

Thanks to Citizens United and the Koch brothers this tend will continue. - Yeah, until the revolution begins..........

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mrlevitySep. 11, 13 7:17 AM

They've mentioned some of the biggest causes: overseas outsourcing and the drop in unions. Another is - although they don't like to mention this in the largely left-leaning press - is the highest immigration since - once again - the 20's. In absolute numbers, we have by far the highest immigration rates ever in this country. In terms of percentages, we're approaching the waves of immigration at the end of 19th/start of 20th century. Land, labor, and capital are factors of production. Increase the supply of labor and it will become relatively cheaper. That's why companies have been lobbying for record immigration for years.

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theagonybhoSep. 11, 13 7:46 AM

Big deal, maybe we should find a way to take it from them. As my father said, watch your own bobber.

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annsypSep. 11, 13 1:36 PM

Americans have been conditioned to regard any concern about growing income inequality as coming from a place of envy, or criticism of the successful for the "sin" of working hard. This effectively shuts most people up---who wants to be thought of as jealous of their more successful neighbors? But income inequality is a serious issue, especially in a democracy. A few with fabulous wealth, while the many struggle, is a recipe for political instability and, ultimately, a government whose main function is protecting the property of the few from the needy many. Do we want to go there? No one would deny that those who take risks to start businesses deserve to be rewarded for success. But the inequality we see today is largely the result of greatly increased productivity that is not being shared with the workers in the form of higher wages. It is also caused by tax laws that treat investment income more favorable than earned income. There are other factors as well, some of them within our control, some not. But it is not explained by those at the top simply working that much harder than those at the bottom.

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jepop90Sep. 11, 13 2:17 PM

Well said annsyp. The remainder of the 99% are not just a bunch of lazy, envious, bums. The majority are willing to work hard as long as they have an honest chance to get ahead.

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foreseer2Sep. 11, 13 5:37 PM

The top 10% has nearly half the income of the country - and a much higher share of the wealth - because over the last 30 years (since Reagan), wealthy people and corporate interest call all the shots in the country. As a result, hard working middle class people are struggling to find and keep jobs, afford to buy homes and send their kids to college to give them half a chance. If you like this version of America, vote for Republcans. Someday soon the top 10% will command 75% percent of our income and people will be happy to be paid minimum wage jobs. If you don't like what is happening, support unions, higher taxes on the rich and enforcement of the discrimination laws. It isn't Muslims or immigrants that are doing harm to our country - it is the people who are running it to feather their own nest at the expense of everyone else.

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rlwr51Sep. 11, 1311:46 PM

theagonybhoSep. 11, 13 7:46 AM "Big deal, maybe we should find a way to take it from them. As my father said, watch your own bobber." . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . You watch your bobber - The 2% took your hook, line and sinker though.

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