|4 Major Ways the Rich Pile On and Exploit the Rest of Us For More Money and Profit
1. Taking ALL the Income
Charles Koch said, "I want my fair share -- and that's all of it." He's been getting his wish lately. In the first two years of the recovery, the richest 1% seemingly impossibly captured 121% of the income gains, (Cool!!! But I imagine that math may only work if you're a Libtard) while incomes for 99% of Americans declined, with the median household income dropping by 7.3 percent.
More and more people are working in respectable but low-wage positions in food service and retail. Low-income jobs ($7.69 to $13.83 per hour) made up one-fifth of the jobs lost to the recession, but accounted for three-fifths of the jobs regained during the recovery.
2. Wealth Grab
According to an AP report, the stock market has regained all its losses since March 2009 while adding an extra 18 percent. That's $11 trillion restored, plus almost $2 trillion gained. Using Economic Policy Institute figures (Tables 6 and 7), we can determine the beneficiaries of the new wealth:
* The richest 1%, 1.15 million families with 38.3% of the stocks, each regained their losses and added an additional $666,000.
* The next 2-5%, 4.6 million families with 30.9% of the stocks, each regained their losses and added an additional $134,000.
* The rest of the top 20%, 17.25 million families with 22% of the stocks, each regained their losses and added an additional $25,500.
* The 30% just above the middle, 34.5 million families with 8.9% of the stocks, each regained their losses and added an additional $5,160.
The bottom 50%, 57.5 million families with 0% of the stocks, gained nothing.
(Ahhhh...So??? If you have no stocks you should "gain"??? Ooooh, I forgot, silly me. This is Libtard Fantasy World thinking where all should be "fair" and every one have a condo in Boca. A nice one...)