The Associated Press says incomes rose last year for the 99% of Americans who aren’t in the top 1% of earners and wealthy folks.
Creation of new jobs in 2014 drove a 3.3% increase in incomes for 99% of families, the best gain in 15 years.
But here’s the stick in your eye: incomes for the wealthiest 1% jumped 10.8%, to an annual average of $1,300,000.
Call it whatever you choose—income inequality, wealth inequality, economic inequality—the dangerous gap between the uber-rich and the rest of us actually widened last year.
The plain truth is: some people have too much money.
Our national, state and local tax policies should be changed to require our very, very wealthy neighbors to pay more of their fair share for the government services we all want.
Copyright © Richard Carl Subber 2015 All rights reserved.