Monday, March 26, 2012

How Do Rich Folk Keep Getting Richer?

Say, are you one of those people who just doesn't believe in all this talk about the rich getting richer and the poor getting poorer? Well here's some new statistics you won't like either. Look, it's not me making these claims, it was put together from information from American's tax returns, and no, it doesn't mention you by name. Names are not released for this sort of economic reporting. But the thing is, that the richest one percent of Americans had an income increase of 11.6%. On the other hand the other 99 % of us saw an increase in our income of $80 per year. So, okay that doesn't tell us much, you say? Well if we put that in prospective it would mean that for us to show an increase of 11.6% it would mean that we had an annual income of $688.69. On the other hand, the top 99% , or in other word, those making about $1,019,089. a year got an extra $118,214 per year. What's that you say, you made more than $700 per year, even more than $7,000 per year, maybe even $20 or $30,000 per year? Well if that's the case then you didn't get 11.6% more in income like your wealthier acquaintances. In fact if you made $30,000 and all you got was $80 more, then you only got .0375% more in income as opposed to 11.6%. So that means they got thirty plus times as much of an increase as you did, percentage wise. Actual dollars difference is $118, 134 if my math is correct and I think it is. So what's that you say? Yeah, I don't begrudge them making a lot more than me either, but then they already were making a lot more than me. And $80 bucks doesn't keep pace with inflation these days. A hundred eighteen thousand sure does though. I guess I'd just like to know how come they get 11.6% and I get less than half a percent?  After all there is a basic unfairness to it, don't you think? How about if we even out the percentage and, let's say, we each get a 5% increase in income, or even 6%? That way you'd get an extra $1500 or $1800 and your rich friend would still get $51,000 or $61,000 more. I'll bet you'd be a whole lot happier. Of course he'd be a whole lot less happy.           

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