Income Gap Up Over Two Decades, Data Show

[maxrandb]

http://story.news.yahoo.com/news?tmpl=story&cid=519&ncid=716&e=5&u=/ap/20040816/ap_on_re_us/income_gap

How in the heck anyone in the middle class supports the "boy chimp" is beyond me.

"The growing disparity is even more pronounced in this recovering economy. Wages are stagnant and the middle class is shouldering a larger tax burden. Prices for health care, housing, tuition, gas and food have soared.

The wealthiest 20 percent of households in 1973 accounted for 44 percent of total U.S. income, according to the Census Bureau (news - web sites). Their share jumped to 50 percent in 2002, while everyone else's fell. For the bottom fifth, the share dropped from 4.2 percent to 3.5 percent. New government data also shows that President Bush's tax cuts have shifted the overall tax burden to the middle class from the wealthiest Americans"

Well times certainly are good for some people:

"On a weekly basis, the average wage of $525.84 is at the lowest level since October 2001.

"The income gap is showing up in booming sales of luxury items. Porsche Cars North America Inc. says sales are up 17 percent for the year. Strong sales at Neiman Marcus, Nordstrom and Saks Fifth Avenue overshadow lackluster sales at stores such as Wal-Mart, Sears and Payless Shoes."

I can see it now......Where can I get my "Neiman Marcus Shoppers for Bush!" bumper sticker?

[MikeG]

1. I don't have a problem with rich people saving money.

I do have a problem with their purchase of luxury items.

May they burn in hell.

[maxrandb]

2. I don't think they should burn in hell

for buying luxury items. I just don't think that you and I should be subsidizing their Hummers and Porches by picking up the slack in the percentage of the tax burden. Hell let them have their Yachts and stuff, just don't ask me to pay for it.

Funny how republicans claim that you "can't solve the problems in the public schools by throwing money at them", but at the same time, the only way to solve economic problems is by throwing money at the wealthy.

[Moderator]

3. Duplicate topic

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=755561