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Politics : Liberalism: Do You Agree We've Had Enough of It?
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From: Kenneth E. Phillipps7/18/2010 8:54:59 PM
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Consider: in 1928 the richest 1 percent of Americans received 23.9 percent of the nation's total income. After that, the share going to the richest 1 percent steadily declined. New Deal reforms, followed by World War II, the GI Bill and the Great Society expanded the circle of prosperity. By the late 1970s the top 1 percent raked in only 8 to 9 percent of America's total annual income. But after that, inequality began to widen again, and income reconcentrated at the top. By 2007 the richest 1 percent were back to where they were in 1928—with 23.5 percent of the total.
-- Robert Reich in Unjust Spoils, The Nation, July 19, 2010
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