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Monday, May 6, 2013

The GROWING crime of income inequality

Income inequality refers to the gap between the rich and the poor. It is a measure of many things, including how much people earn and most notably how much they have (i.e., wealth).

It has been growing in America for some time. And it is not happening by accident. Purposeful policies create it. Things like tax cuts, outsourcing, downsizing, unnecessary wars, etc.

But, even when we face economic crises, politicians find a way to make it even worse. Yet, there's not much about it in the news.

This is from an article on Alternet:

"From 2009 to 2011, the richest 8 million families (the top 7%) on average saw their wealth rise from $1.7 million to $2.5 million each. Meanwhile the rest of us -- the bottom 93% (that's 111 million families) -- suffered on average a decline of $6,000 each.

Do the math and you'll discover that the top 7% gained a whopping $5.6 trillion in net worth (assets minus liabilities) while the rest of lost $669 billion. Their wealth went up by 28% while ours went down by 4 percent.

It's as if the entire economic recovery is going into the pockets of the rich. And that's no accident."
The author of the article goes on to explain why. Check it out here. Pretty shocking stuff that you think would be of interest to the American media. Only it's not.

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