How the rich became the über rich

This is worth a repost after just posting about the rising poverty rate.  WAKE UP AMERICA!


NEW YORK (CNNMoney) -- There's a growing income gap in America, but it's not necessarily between the rich and the poor.

It's between the super rich and everyone else. Or as George W. Bush once quipped at a swanky campaign dinner, "the haves and the have-mores."

Income trends among 90% of Americans are relatively unchanged over the last decade. Nearly all segments of the population are moving relatively in proportion. Which is to say, they're barely moving at all.

But look at the top 10th percentile and a different story begins to emerge. The super wealthy are getting much richer, as everyone else's incomes are practically stagnant.

In 2009, the richest 10% of Americans accounted for about half the nation's wealth. Narrow that focus a bit further, and the trend is even more alarming. The top 0.1% -- those who make at least $2 million each year -- controlled 10% of the economy.

That's a far cry from the 1950s, when the suburban American dream ruled: the bottom 90% of Americans controlled about 68% of the economy.


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How the rich became the über rich