Concentration of wealth highest since 1928. Does not bode well for economic growth

[JohnWxy]

http://www.demos.org/inequality/numbers.cfm

The top one percent of households received 21.8 percent of all pre-tax income in 2005, more than double what that figure was in the 1970s. (The top one percent's share of total income bottomed out at 8.9 percent in 1976.) This is the greatest concentration of income since 1928, when 23.9 percent of all income went to the richest one percent. (Piketty and Saez)

[samplegirl]

1. Amazing...............And it just

NEVER ENOUGH!!!

[Frisbee]

2. And it's probably closing in on 30% now.

Greed knows no bounds.

[jwirr]

3. And when you put that in context it is even worse. Back then about

92% of the people were rural and able to grow food for themselves, had jobs, lived simply, etc. Today urban citizens are dependent on grocery stores, unemployment. etc. Also back then many families were extended families that could help each other. Today we have families on their own. This divide is hurting more people today more severely than it did then. Granted the one thing we have going for us today are the entitlements but the rich want to get rid of them also.

[katty]

4. no, does not bode well, ask the victims of 1930's depression

and this time it will be way worse.