Often it takes a couple years for enough statistical data to be collected to get a clear picture of the effects of Republican class warfare in the US. The truth about Republican economics is that trickle down never has trickled down and never will. It always gushes up. This has led to inequity so severe, that it must be changed.
NEW statistics show an ever-more-startling divergence between the fortunes of the wealthy and everybody else — and the desperate need to address this wrenching problem. Even in a country that sometimes seems inured to income inequality, these takeaways are truly stunning.
In 2010, as the nation continued to recover from the recession, a dizzying 93 percent of the additional income created in the country that year, compared to 2009 — $288 billion — went to the top 1 percent of taxpayers, those with at least $352,000 in income. That delivered an average single-year pay increase of 11.6 percent to each of these households.
Still more astonishing was the extent to which the super rich got rich faster than the merely rich. In 2010, 37 percent of these additional earnings went to just the top 0.01 percent, a teaspoon-size collection of about 15,000 households with average incomes of $23.8 million. These fortunate few saw their incomes rise by 21.5 percent.
The bottom 99 percent received a microscopic $80 increase in pay per person in 2010, after adjusting for inflation. The top 1 percent, whose average income is $1,019,089, had an 11.6 percent increase in income…
Inserted from <NY Times>
The Republican response to such inequity is simple. Take more from the poor and middle classes so the rich can pay less. That’s because Republicans govern exclusively for the benefit of millionaires, billionaires, and corporate criminals. They do NOT represent YOU! Your job is to replace them with Democrats.