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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (103147)	10/16/2011 9:33:18 PM
From: tejek	Respond to of 149317

Three factoids underscore that inequality: ¶The 400 wealthiest Americans have a greater combined net worth than the bottom 150 million Americans. ¶The top 1 percent of Americans possess more wealth than the entire bottom 90 percent. This trend has been in place at least since 1980. ¶In the Bush expansion from 2002 to 2007, 6 5 percent of economic gains went to the richest 1 percent. It was the weakest period for salary growth among the middle class in 20 years. As my Times colleague Catherine Rampell noted a few days ago, in 1981, the average salary in the securities industry in New York City was twice the average in other private sector jobs. At last count, in 2010, it was 5.5 times as much. (In case you want to gnash your teeth, the average is now $361,330.) I had a friend who graduated business school in 2000 and went to work for Lehman. By 2002, he was making more than $250K. I was shocked.