19 Aug, 2012
The 1 Percent Has Nearly Tripled Its Share of America’s Income
Released yesterday, the study [PDF] is a product of years of researchers delving into IRS and Census Bureau records. It says that not only have income disparities vastly increased, but that the reason they’ve increased is due in large part to a combination of uneven income stream distribution and changes in the tax laws to benefit the ultra-wealthy. In other words, poor people are finding less access to revenue sources like capital gains than they used to, and rich people are being taxed less. The result is skyrocketing wealth for the upper crust while regular people lose their homes en masse.
With information like this, whether you agree with Occupy Wall Street isn’t at issue anymore. The real question is how long a nation this top-heavy can last before it topples.
via GOOD Mobile.
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