what is the bottom line to all that? Are you saying the upper income brackets have not increased exponentially over the past three decades while the lower income brackets have diminished in proportion?
In simpler terms, are you saying the rich haven't become substantially richer while more Americans have become proportionately poor, or poorer?
1. Yes, that's exactly what I'm saying.
And, if you read carefully, proving.
2. And, see if you believe this, as well....the 'rich' have been hit hardest by the meltdown, far from "rich have become substantially richer."
From Northwestern:
WASHINGTON – A new report shows double-digit decreases in the number and wealth of the United States’ richest individuals last year.
The declines were the steepest since 1996, when the Merrill Lynch and Capgemini World Wealth Report was first published, leading some to ponder the ripple effects on the economy.
The 2008 declines in the population and wealth of U.S. High Net Worth Individuals – or those owning $1 million or more in financial assets minus the worth of primary residences – closely mimicked world-wide declines. In fact, the 2008 global HNWI population and wealth retreated below 2005 levels, undoing three years of consistent growth.
The U.S. population of HNWIs – the wealthiest Americans -- fell 18.5 percent to 2.5 million in 2008, while North American HNWI wealth (the report did not break out figures for U.S. HNWI wealth) dipped 22 percent to $9.1 trillion. Nevertheless, the U.S. continues to retain the largest number of HNWIs in the world – about 29 percent of the total HNWI population.
Super rich faced steep declines in wealth last year
3. What has "increased exponentially over the past three decades" is the power of the Left to convince folks like you that the sky is falling.
a. Bogus 'poverty level' increases.
b. Stoking the flames of envy.
c. Control of means of dissemination of information
“The radicals were not likely to go into business or the conventional practice of the professions. They were part of the chattering class, talkers interested in policy, politics, culture. They went into politics, print and electronic journalism, church bureaucracies, foundation staffs, Hollywood careers, public interest organizations, anywhere attitudes and opinions could be influenced. And they are exerting influence.” Robert H. Bork, “Slouching Toward Gomorrah,” p. 51
Welcome to the real world.