Career Calling

September 11, 2013

The Big Winners of 2012

The Miami Heat?

The Baltimore Ravens?

Argo?

Nope.  It’s the 1% stomping all challengers in the income game.  Al Jazeera America reports that the richest of the rich collect 19.3% of all income earned in the U.S. in 2012, which is the largest share in IRS records for the past century.  95% of income increases since 2009 have gone to the top 1%, which is defined as income over $394,000 in 2012.

In some ways, these numbers aren’t surprising because they are part of a trend, more of the same.  What is surprising is that so many Americans accept this situation as normal.  Since the Reagan presidency, tax laws have been rigged to help the most wealthy.  Meanwhile, the middle class pays more of its declining income to support the social programs needed by employees of companies like Walmart and McDonalds that pay low wages.  99% of America needs a raise.

 

 

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