Apr 2, 2007
The top one% of U.S. taxpayers averaged more than $1,100,000 in income in 2005, a rise of 14% in one year, according to newly released data from taxes. In that same year the average income of the bottom 90% actually dropped by about one%.
Thus, the gap between rich and poor grew wider. The 300,000 people at the top had about as much income as the 150 million people at the bottom.
This gap has doubled since 1980 and it is the highest recorded since 1928, just before the great stock market crash of 1929.
This enormous difference is simply the result of capitalist exploitation of the working class.