INCOME GAP FACTS

The top 1/100 of 1% averages 976 TIMES more income than the other 90% combined—HIGHER than 1928 before the Great Depression.

The top 10% owned 71.5% of wealth in 2007. The lowest 50% owned only 2.5% of US wealth.

The top 1% owned almost 51% of US Stocks, bonds and mutual funds, but the bottom 50% owned only ½ of 1%.

CEOs’ pay was UP 298.2% in 2006 while minimum wage FELL by 9.3%. (Both adjusted for inflation.)

Income tax rates for the top group were in the 90% range since Eisenhower, until Johnson lowered them into the 70 percentiles, where they remained until 1982.

In the 1980s, the top marginal tax rate DROPPED from 70% to 38.5%. Congress is unwilling to let the rate revert to 2001 rate of 39.6%.

With the Bush Tax Cuts, 67% of the funds went to the top 20% income bracket.
After-tax income of the top 1% of income earners went up 139%.
Those from the middle class had increases of only 17%.

Wal-Mart’s CEO earns more in one hour than his employees earn in a year.

An average S&P 500’s CEO makes 319 times MORE than the average American worker. In the 1970’s that ratio was 30 to 1.

US corporations hit record high profits of $1,660,000,000,000 at the end of October 2010.

For 30+ years, US economic policies helped the rich get richer, while reducing their tax burden.

If income inequality continues at its current pace, the U.S. Dept. of Labor says the U.S. economy will look like Mexico’s by 2043.

When will Congress stand up for the middle class again?