IRS says rich getting richer

[peejay 327]

IRS says rich getting richer: report

NEW YORK (Reuters) - The richest one percent of Americans earned a postwar record of 21.2 percent of all income in 2005, up from 19 percent a year earlier, reflecting a widening income disparity among different classes in the nation, the Wall Street Journal reported, citing new Internal Revenue Service data.

The data showed that the fortunes of the bottom 50 percent of Americans are worsening, with that group earning 12.8 percent of all income in 2005, down from 13.4 percent the year before, the paper said.

It said that while the IRS data goes back only to 1986, academic research suggests that the last time wealthy Americans had such a high percentage of the national income pie was in the 1920s.

The article cited an interview with President Bush, who attributed income inequality to "skills gaps" among various classes. It said the IRS didn't identify the source of rising income for the affluent, but said a boom on Wall Street has likely played a part.

http://news.yahoo.com/s/nm/20071012/bs_nm/irs_income_dc

[Raspect 0]

BUSH IS GOOD!!!

[Ban Hammer 14,269]

BUSH IS GOOD!!!

personally i prefer trimmed or shaved

[Mephys 2]

BUSH IS GOOD!!!

personally i prefer trimmed or shaved

[Mags 112]

BUSH IS GOOD!!!

personally i prefer trimmed or shaved

Charles!

[peejay 327]

BUSH IS GOOD!!!

For what? For whom? Not everyone would agree.

In reference to both George junior and his daddy, Jesse Jackson warned America to "Stay out da Bushes!" during his 2000 election diatribe at the Democratic National Convention in Los Angeles.

Seven years later the proof is in the pudding. Every once in a while Jesse is right on target. Not often, but in this case I'll give the devil his due.

[Jasman0717 9]

"rich getting richer" Usually the case

[Mr. Big Dog 10,747]

I'm just waiting for one of the spin doctors to come out and say it. You now, that the top 1% has just been working that much harder and the middle on down has obviously gotten lazier.

Any takers?

[Sister Fracas 5]

I'm just waiting for one of the spin doctors to come out and say it. You now, that the top 1% has just been working that much harder and the middle on down has obviously gotten lazier.

Any takers?

they are also illegal ...

Edited October 12, 2007 by Frances

[Mr. Big Dog 10,747]

I'm just waiting for one of the spin doctors to come out and say it. You now, that the top 1% has just been working that much harder and the middle on down has obviously gotten lazier.

Any takers?

they are also illegal ...

50% of the population?

[Caladan 19]

It's been a trend since Reagan took office and I think comparatively, the income gap is rather similar to the one right before the Great Depression.

[Mr. Big Dog 10,747]

It's been a trend since Reagan took office and I think comparatively, the income gap is rather similar to the one right before the Great Depression.

So, you're suggesting...

[eric&gen 0]

Fuc the IRS but i love bush lol.

[Caladan 19]

It's been a trend since Reagan took office and I think comparatively, the income gap is rather similar to the one right before the Great Depression.

So, you're suggesting...

That we are not moving in the right direction and lately we're aggressively moving in that direction. Happy societies have happy, large middle classes, not 1% of the people controlling a quarter of the wealth.

[Mr. Big Dog 10,747]

It's been a trend since Reagan took office and I think comparatively, the income gap is rather similar to the one right before the Great Depression.

So, you're suggesting...

That we are not moving in the right direction and lately we're aggressively moving in that direction. Happy societies have happy, large middle classes, not 1% of the people controlling a quarter of the wealth.

I think you're onto something. The erosion of the middle class can't be a good thing.