martes, octubre 18, 2011

Who are the 1 percent in Congress?

AMERICAblog/

A lot of Ds in the top ten richest members of Congress, followed by a lot of Rs.

And via Andrew Sullivan we learn that the 1970s were the tipping point for when the rich really took over their ownership of much of the country's wealth.

Jeffrey Winters traces America's wealth distribution over time:
The decade from 1970–80 was the turning point in the Great American Inversion. ... By 1990, real incomes for the top 1 percent exceeded the 1920 level threefold and continued to rise thereafter, while those of the majority did not budge. Reversing the pattern of previous decades, the richer you were, the faster gains accrued. It did not matter if Democrats or Republicans were in charge of the White House or Congress. By 2007, the top 1 percent of households had almost five times the real income they had in 1920; the top 0.1 percent had around six times, and the top 0.01 percent were awash in nearly ten times the real income they had enjoyed nine decades earlier.

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