Tuesday, February 28, 2006


THE RICH DO INDEED!


Seems I left the career track just in time...

"Between 1972 and 2001 the wage and salary income of Americans at the 90th percentile of the income distribution rose only 34 percent, or about 1 percent per year. So being in the top 10 percent of the income distribution, like being a college graduate, wasn't a ticket to big income gains.

But income at the 99th percentile rose 87 percent; income at the 99.9th percentile rose 181 percent; and income at the 99.99th percentile rose 497 percent. No, that's not a misprint...

Both history and modern experience tell us that highly unequal societies also tend to be highly corrupt. There's an arrow of causation that runs from diverging income trends to Jack Abramoff and the K Street project."


Interesting, that a discerning democracy elected one born into the 99.99th percentile to be its fair and balanced leader...

3 comments:

Chancy said...

Elected ???


More like appointed..

Mick Brady said...

It's a hallowed American tradition; Washington, Jefferson, Madison, Monroe, a couple of Roosevelts, all those Kennedys... We seem to have done ok in spite of it, it seems.

Robert Brady said...

All those guys were genuine heroes, one way or another...