http://finance.yahoo.com/news/wealth-gap-guide-why-matters-

Spoonman

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WASHINGTON (AP) — From the White House to the Vatican to the business elite in Davos, Switzerland, one issue keeps seizing the agenda: the growing gap between the very wealthy and everyone else.

It's "the defining challenge of our time," says President Barack Obama, who will spotlight the issue in his State of the Union address Tuesday night.

For the poorest 20 percent of families, it's dropped. Incomes for the highest-earning 1 percent of Americans soared 31 percent from 2009 through 2012, :eek:


and we didn't want to elect Romney because liberals told us he would favor the 1% and the rich would get richer
 

Plasmaball

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Romney wouldnt have done anything different, but keep crying over it.
 

realinvestment

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Read this part of the article....

<<<Q. So why has income inequality worsened?

A. There's no simple answer. Globalization has created "superstars" and concentrated pay among corporate executives, Wall Street traders, popular entertainers and other financial elite. At the same time, factory workers now compete with 3 billion people in China, India, eastern Europe and elsewhere who weren't working for multinational corporations 20 years ago. Many now make products for Apple, Intel, General Motors and others at low wages. This has depressed middle-class pay. And pay has risen much faster for college graduates than for high-school graduates. These trends have contributed to a "hollowed out" labor market, with more jobs at the higher and lower ends of the pay scale and fewer in the middle.

Social factors contribute, too. Single-parent families are more likely to be poor than other families and less likely to ascend the income ladder. Finally, men and women with college degrees and high pay are more likely to marry each other and amplify income gaps. >>>
 
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Spoonman

Spoonman

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Romney wouldnt have done anything different, but keep crying over it.
Romney would have set us on the right track. reelecting Obama was a bigger mistake than electing him the first time
 

Dont Taz Me Bro

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So what the president is saying is that his crony capitalist policies and that of his party favors the 1% more than anyone else. Ironic considering that's what they're always accusing the right of.
 

realinvestment

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So what the president is saying is that his crony capitalist policies and that of his party favors the 1% more than anyone else. Ironic considering that's what they're always accusing the right of.
No, I would say this is happening due to factors that having nothing to do with the president's policies.
 
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