Income Inequality In America

INCOME INEQUALITY IN AMERICA

Rich Poor signsU.S. Income Inequality has been growing for almost three decades:“The gulf between the richest 1 percent and the rest of America is the widest it’s been since the Roaring ’20s.

“The very wealthiest Americans earned more than 19 percent of the country’s household income last year — their biggest share since 1928, the year before the stock market crash. And the top 10 percent captured a record 48.2 percent of total earnings last year.” — Talking Points Memo 9/10/13

The Rich get richer through the recovery: “The top 10 percent of earners took more than half of the country’s total income in 2012, the highest level recorded since the government began collecting the relevant data a century ago, according to an updated study by the prominent economists Emmanuel Saez and Thomas Piketty.” — New York Times 9/10/13

The 50 Richest members of Congress — The wealth keepsU.S. Capitol Building growing: “A surprisingly strong year in the financial markets made the richest members of Congress even wealthier in 2012, with the median net worth of the 50 richest rising more than 17 percent, CQ Roll Call’s annual survey of congressional wealth shows.”Roll Call 9/13/13

A closer look at the 50 Richest members of Congress: The median net worth of the top 50 was $14.3 million, a number made all the more astonishing by the fact that it’s 46 times as much as the median net worth ($306,000) of all the other members of Congress last year. And that lesser amount, in turn, is more than quadruple the median household net worth in the country.”Roll Call 9/16/13

U.S. Capitol BuildingThe 50 Richest members of Congress: Who they are and what they’re worth: “Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year’s report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club. The wealthiest lawmakers with breakdowns of their assets and liabilities is found below.” — See chart at CQ Roll Call 9/13/13

GOP Rep. complains he’s “stuck” making only $172,000 per year: “Rep. Phil Gingrey (R-GA), who’s running for Senate in Georgia, complained that while his staff can jump to K Street and make $500,000 a year by lobbying, he’s “stuck” in Congress making a bare $172,000 a year.”Talking Points Memo 9/18/13

House GOP votes to cut nearly $40 Billion from SNAPNY State EBT Card (Food Stamps) Program: “This evening’s House vote on the food assistance program SNAP is significant not only in the size of the cuts proposed but also by separating food assistance policy from agricultural subsidy policy. That pairing, which dates back to the Great Depression, has been key to the success of both policy programs. To understand the significance of the proposed cuts to SNAP, we need to understand it in a larger context.” — See chart for breakdown by vote at GovTrack.us 9/19/13

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About At Random

I am (Ms.) Jay White Feather, a lifelong New York City resident, born and raised on the mean streets of Manhattan back in the day. I am of Native American heritage -- a native New Yorker who grew up back when it meant something to be a New Yorker. And to me, it still does mean something.
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