Monday, January 16, 2012

Income Inequality

Income inequality refers to the extent to which income is distributed in an uneven manner among a population. In the United States, income inequality, or the gap between the rich and everyone else, has been growing markedly for some 30 years.

In 2007, the top 1 percent share of national income peaked at 23.5 percent. The only other year since 1913 that the wealthy had claimed such a large share of national income: 1928, when the top 1 percent share was 23.9 percent. The following year, the stock market crashed, and the Great Depression began. After peaking again in 2007, the U.S. stock market crashed in 2008, leading to what some are now calling the “Great Recession.”

It is clear the GOP's desire to continue to increase the wealth of the top 1% is hurting the middle class and cause another “Great Recession.”

No comments: