Thank you for this Excellent post, Anon 2:
Where did all the money and jobs go?
The Richest 1% Have Captured America's Wealth.
- Including stock options and other benefits, CEO pay is $500 to $1.
- From 1980 to 2006 the richest 1% of America tripled their after-tax percentage of our nation's total income.
- The bottom 90% have seen their share drop over 20%.
- Between 2002 and 2006, it was even worse: three-quarters of all the economy's growth was captured by the top 1%.
- The economic top one percent of the population now owns over 70% of all financial assets, an all time record.
- Workers lost an average of 25 percent off their 401k. The wealth of the 400 richest Americans increased by $30 billion, bringing their total combined wealth to $1.57 trillion.
- The 400 richest Americans have more wealth than 155 million people combined.
- 2009 was a record-breaking year for Wall Street bonuses, as firms issued $150 billion to their executives. 100% of these bonuses are a direct result of our tax dollars.
- If we used this bonus money to create jobs, we could have paid an annual salary of $30,000 to 5 million people.
- US workers are now working more hours and have become dramatically more productive, but their pay is actually declining.
- Increases in wealth are going straight into the pockets of the Economic Elite.
Yet the rich complain their taxes are too high.