Friday, March 30, 2007

America increasingly divided by income

Here's more of the same news that I've come to expect as a result of the policies of the last few years. According to the NY Times article linked below, the top one percent of Americans received their largest share of the national income pie since 1928.

To say this is troubling is an extreme understatement. But it is not surprising at a time when tax cuts are promoted, passed, and lauded...yet the only Americans receiving any benefit from such cuts are those whose income levels set them distinctively apart from the majority of most Americans.

Here's a statistic from this article that is absolutely stunning: "the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans."

Tax cuts for the rich. One political party would paint that as an errant mantra. But is it?

Huge income divisions between the vast majority of the nation and only a select few is hardly a way to promote the stability of the middle class, which is the core strength of the nation.

Obviously, there are many individuals who benefit from the policies that the rest of the nation is subjected to. But that was the case in 1928, too, right before the crash.

The rich get richer and you know the rest

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