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Comments about ‘Gap widens between U.S. rich, poor as top 1 percent controls 25 percent of wealth’

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Published: Tuesday, Sept. 27 2011 9:00 a.m. MDT

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Voice of Reason
Layton, UT

cpafred - As I noted earlier, my source was directly from the latest IRS gross income data, and the latest BLS CPI data. They won't let me post weblinks here, but as a CPA I'm sure you could easily find it on your own.

Let me say it again: incomes for the poorest among us need to be measured not against others, but against their own growth in cost of living. that's because the poor could increase their "share" of national wealth and see the rich decrease their, but still lose ground to inflation. Likewise, they could see their "share of wealth" decrease and the rich's increase, but still gain ground against inflation and improve their situation...this is what has actually been happening in recent years, especially under GOP Congresses.

In other words, a rising tide really DOES raise all boats...just because one boat raises higher does not mean another boat has to sink, as the left keeps repeatedly saying in a transparent effort to foster class warfare.

LDS Aerospace Engineer
Farmington, UT

VST | 9:41 p.m. Sept. 27, 2011
Bountiful, UT
@LDS Aerospace Engineer,

I have no idea who you work for, but whoever it is, you are being ripped off at those rates which equate to $35K to $73K per year. Before I retired as an Engineering Manager (Aerospace), I was hiring newly graduated engineers out of college and was offering them starting salaries at about $50K per year and that was over eight years ago. $75 to $90K per year was the norm for journeyman engineers - higher for senior/lead engineers.

Engineers are not wealthy, but they are not starving to death either.

=================

Times have changed my friend,
and you are completely out of Out of touch with reality.

Fred44
Salt Lake City, Utah

Voice of reason I guess what you are saying is that the poor are better off, because according to your statistics they have made an ever so slight increase over the rate of inflation, while at the same time the wealthy are up in the hundreds of percentage points over the rate of inflation is proof that this economy is working for everyone? Could we at least agree that this economy is working a whole lot better for the rich than it is for the poor.

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