It looks like the “Roaring Twenties” all over again. According to The Atlantic magazine, two-thirds of all new income in America between 2002 and 2007 went to just the top 1 percent of Americans.
That’s $2 out of every $3 in America being sucked up by the richest of the rich. Not to mention that the wealthiest 400 Americans — our nation’s most senior oligarchs, who own more wealth than the bottom 150 million Americans combined — have seen their incomes double over the last 12 years while their tax rates have been cut in half.
Wealth inequality in America is at levels not seen since the 1920s — and we’re now a more unequal nation than the Ivory Coast, Pakistan, Ethiopia, and Kazakhstan according to data from the CIA Factbook.
Talk about a “for the rich, by the rich” economy ...
If you think this makes for a stronger America, just keep voting for those who support wealthy corporations and the richest 1 percent of Americans while cutting Social Security, Medicare and education. You know who they are.