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46. Protest The Extremist’s War On The 99%

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President Obama on the Suffering of the 99%

(December 4, 2013)

“People’s frustrations are rooted in the nagging sense that no matter how hard they work, the deck is stacked against them.
Taxes have been slashed for the wealthiest.

  • The economy has become profoundly unequal and families more insecure.
  • Since 1979, our productivity is up by more than 90 percent, but the income of a typical family has increased by less than eight percent.
  • Since 1979, our economy has more than doubled in size, but most of that growth has flowed to a fortunate few.
  • The top 10 percent no longer takes in one-third of our income — it now takes half.
  • In the past, the average CEO made about 20 to 30 times the income of the average worker. Today’s CEO now makes 273 times more.
  • A family in the top 1 percent has a net worth 288 times higher than the typical (99%) family.
    • A child born in the top 20 percent has about a 2-in-3 chance of staying at or near the top.
    • A child born into the bottom 20 percent has a less than 1-in-20 shot at making it to the top.
  • Our levels of income inequality rank near countries like Jamaica and Argentina.
  • It is harder for a child born in America to improve her station in life than it is for children in most of our wealthy allies — like Canada or Germany or France.
  • The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe.

And it is not simply a moral claim that I’m making here.

There are practical consequences to rising inequality and reduced mobility.”



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