The top 20% in the USA, in terms of income, now account for 60.5% of consumer outlays. Clearly the bottom 80% are slackers, lazy, and uncooperative.
The economy tied to the rich? Really, what do you know...
Yahoo: U.S. Economy Is Increasingly Tied to the Rich
...the top 5% of Americans by income account for 37% of all consumer outlays.
the bottom 80% by income account for 39.5% of all consumer outlays.
4 comments:
A two class society is emerging with hard lines between the two classes. The folks in the upper class make many X's more then those in the lower stratas and this disparate y is growing wider by the day. NOTHING the Gov't is doing is making this better. In fact since Obama has come to office it has greatly worsened. FDR he's not.
I don't think we can completely link Obama's inability to dissolve the class lines on this presidency. This movement of wealth into the hands of the richest has been going on for a long time. Its just reached more of a noticeable tipping point right now. Reagan, Bush, Clinton, Bush - they all did it. I think Obama wants to do this, wants to create more equality< I really do, but he can't. Its not in his power. Imagine a McCain Palin presidency, equality? Never.
Obama is the president who actually mentions the failure of our system to benefit the middle class for the last 25 years.
Paraphrasing, he's like, "sure, recession, gotta fix it. But what about the bigger picture? It's not working -- the standard of living has been slipping for decades."
Sorry, folks but I don't see Obama doing anything within his powers to change any of this. Quite to the contrary. Read , what Ezra Klein said about him in the Wash. Post the other day. He rants and raves at a business and then behind the scenes gives these same faux enemies huge bail outs, pay off and other wonderful deals. He's a CORPORATIST. He's just as much for transferring more of the Nat'l wealth to the top as anyone since Reagan. In fact in his own words his idol wasn't FDR it was R. Raygun.
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