Welcome to the New Gilded Age
Oct. 13th, 2007 11:35 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
forsythLast year, the top 1% of Americans made 21.2% of the total income in the US.
That's probably why, despite all the "great" numbers for the economy, most people don't think it's going so well. Because they're not. And neither is anyone they know. All the economic gains of the past almost decade have been going to the same tiny subset of people, rather than being spread out through society. All that extra productivity and work people are putting in doesn't come back to them, it gets hoovered up to the top.
And it doesn't trickle back down.
That's probably why, despite all the "great" numbers for the economy, most people don't think it's going so well. Because they're not. And neither is anyone they know. All the economic gains of the past almost decade have been going to the same tiny subset of people, rather than being spread out through society. All that extra productivity and work people are putting in doesn't come back to them, it gets hoovered up to the top.
And it doesn't trickle back down.
