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Fact:
80% of all new income generated in this country from 1980 - 2005 went to the top 1%.
Introducing the Great Divergence - Slate Magazine
Fact:
The top 1% of America own 42% of America's financial wealth while the bottom 80% owns 4.7% of our financial wealth. The top 1% own 35% of America's net worth while the bottom 80% own 11% of America's net worth.
Who Rules America: Wealth, Income, and Power
Fact:
In 1982 the top 1% earned 12.8% of our national income. Today they earn 17,2% of our income. In 1982 the bottom 80% earned 48.1% of our nation's income. Today they earn 40.9% of our nation's income.
Who Rules America: Wealth, Income, and Power
Fact: The incomes of the top 1% have risen by 281% from 1979 - 2007. The incomes of the middle fifth of Americans has risen by 25% in that time range. It grew by just 16% for the bottom fifth. Most of the growth for the poor and middle class happened in the 1990's.
Income Inequality Is Not a Myth - Derek Thompson - The Atlantic
Fact: Wealth inequality is strongly correlated with how much we tax the rich. Since tax rates for the very richest was slashed in the 1980's, wealth inequality has started rising steadily.
http://c1ecolocalizercom.wpengine.netdna-cdn.com/files/2010/04/wealthgapchart1.jpg
Fact: Growth in income inequality is strongly correlated with sluggish median income growth.
http://www.the-crises.com/wp-content/uploads/2010/12/income-inequality-usa-18.jpg
Fact: Economic mobility is smaller in America than it is in Europe which has less income inequality. Countries with higher inequality have lower income mobility.
Inequality And Mobility In The United States - Business Insider
Fact: As income inequality rises in America, economic mobility falls.
America's Decreasing Economic Mobility
Fact: Only 15% of the bottom 80% will make it into the top 20%.
The Income Inequality Debate - Council on Foreign Relations
Conclusion: Income inequality is a problem that needs to be dealt with. What is the solution?
80% of all new income generated in this country from 1980 - 2005 went to the top 1%.
Introducing the Great Divergence - Slate Magazine
Fact:
The top 1% of America own 42% of America's financial wealth while the bottom 80% owns 4.7% of our financial wealth. The top 1% own 35% of America's net worth while the bottom 80% own 11% of America's net worth.
Who Rules America: Wealth, Income, and Power
Fact:
In 1982 the top 1% earned 12.8% of our national income. Today they earn 17,2% of our income. In 1982 the bottom 80% earned 48.1% of our nation's income. Today they earn 40.9% of our nation's income.
Who Rules America: Wealth, Income, and Power
Fact: The incomes of the top 1% have risen by 281% from 1979 - 2007. The incomes of the middle fifth of Americans has risen by 25% in that time range. It grew by just 16% for the bottom fifth. Most of the growth for the poor and middle class happened in the 1990's.
Income Inequality Is Not a Myth - Derek Thompson - The Atlantic
Fact: Wealth inequality is strongly correlated with how much we tax the rich. Since tax rates for the very richest was slashed in the 1980's, wealth inequality has started rising steadily.
http://c1ecolocalizercom.wpengine.netdna-cdn.com/files/2010/04/wealthgapchart1.jpg
Fact: Growth in income inequality is strongly correlated with sluggish median income growth.
http://www.the-crises.com/wp-content/uploads/2010/12/income-inequality-usa-18.jpg
Fact: Economic mobility is smaller in America than it is in Europe which has less income inequality. Countries with higher inequality have lower income mobility.
Inequality And Mobility In The United States - Business Insider
Fact: As income inequality rises in America, economic mobility falls.
America's Decreasing Economic Mobility
Fact: Only 15% of the bottom 80% will make it into the top 20%.
The Income Inequality Debate - Council on Foreign Relations
Conclusion: Income inequality is a problem that needs to be dealt with. What is the solution?