BDBoop
Platinum Member
- Banned
- #1
http://www.nytimes.com/2011/11/04/opinion/oligarchy-american-style.html?_r=1&hp
They're not job creators, they're human Hoovers.
If anything, the protesters are setting the cutoff too low. The recent budget office report doesnt look inside the top 1 percent, but an earlier report, which only went up to 2005, found that almost two-thirds of the rising share of the top percentile in income actually went to the top 0.1 percent the richest thousandth of Americans, who saw their real incomes rise more than 400 percent over the period from 1979 to 2005.
Whos in that top 0.1 percent? Are they heroic entrepreneurs creating jobs? No, for the most part, theyre corporate executives. Recent research shows that around 60 percent of the top 0.1 percent either are executives in nonfinancial companies or make their money in finance, i.e., Wall Street broadly defined. Add in lawyers and people in real estate, and were talking about more than 70 percent of the lucky one-thousandth.
They're not job creators, they're human Hoovers.