IRS says rich getting richer: report

[babylonsister]

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

IRS says rich getting richer: report

Fri Oct 12, 2:48 AM ET

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.
:eyes:

[Johonny]

1. So when they cry class warfare

what's exactly wrong with a little class warfare? We are only 99 % of the nation!

[Canuckistanian]

2. All is going according to plan

Muwaaahhahahahahahaha!

[Trillo]

3. The other day I read a post on DU, some DUer railing against

Kucinich, something along the lines of the idiocy of him going against the AARP. I looked it up and what I found was that the AARP hadn't invited Kucinich to a debate, then Kucinich said something about that.

Why is it okay for Americans to constantly be demeaned with respect toward their educations, for them to be told they always have to retrain (get more formal schooling or formal training), but it's not okay to tell CEOs of medical insurance companies that they're going to have to retrain because their industry will be eclipsed by government-run Medicare for all as Single-Payer Universal?

Perhaps retraining is only for little people?