According to the Congressional Budget Office the increase in incomes of the top 1 percent of Americans from 2003 to 2005 exceeded the total income of the poorest 20 percent of Americans.
Let me repeat that for you with added emphasis. The INCREASE in incomes of the top 1 percent of Americans from 2003 to 2005 exceeded the TOTAL income of the poorest 20 percent of Americans.
Pardon my English, but that’s just fucking insane.
The poorest fifth of households had TOTAL income of $383.4 billion in 2005, while just the INCREASE in income for the top 1 percent came to $524.8 billion, a figure 37 percent higher.
On average, incomes for the top 1 percent of households rose by $465,700 each or 42.6% after adjusting for inflation. The incomes of the middle fifth increased by $2,400 or 4.3%, and the poorest fifth rose by only $200 or 1.3%.
Yep, lots of numbers there people, but here are just a few more. The gains in after-tax income from 2003 to 2005 for the bottom 40% of the country was less than 3%. For the top 1% of the country, it was 43.5%.
Welcome to the American dream. So do you still feel like voting Republican?