You will probably hear about this later, but only if the corporate media cannot keep it under wraps. Al Jazeera right now, is the only major news source showing up on the top 4 search engines running this Associated Press story regarding a quiet news dump made by the IRS.
First question: Why Al Jazeera? On to the news dump....
- The top 1 percent of U.S. earners collected 19.3 percent of household income in 2012, their largest share in Internal Revenue Service figures going back a century.
- Until last year, the top 1 percent's share of pre-tax income had not yet surpassed the 18.7 percent it reached in 1927,
- The incomes of the top 1 percent rose 19.6 percent compared with a 1 percent increase for the remaining 99 percent.
- 95 percent of the income gains reported since 2009 have gone to the top 1 percent. That compares with a 45 percent share for the top 1 percent in the economic expansion of the 1990s ...
- The top 10 percent haven't done badly, either. Last year, they captured 48.2 percent of income, another record. Their biggest previous take was 46.3 percent in 1932.
Just to see how you compare, the top 1 percent of American households had income above $394,000 last year. The top 10 percent had income exceeding $114,000.
What can you do about it?You can promise you will never vote for anyone who will give a tax cut to the top 1%. Ever. This is not a party ideology thing; all three parties are guilty. This is a real thing affecting you. Just looking above at the simple comparison between today and the nineties should readily tell everyone that our current tax rate on the top one percent is 50% too low...
It is so obvious that all our personal and national financial troubles come from all the money being sucked up by the 1%...... Stop that, or recycle a lot of it back, and America gets back on its feet as with a shot of adrenalin...
We need to shut down all talk of tax cuts for the wealthy... Any tax cut benefiting the one percent, is a very, very, very bad thing. Facts almost hurt you when they hit you in the face; it is impossible not to see otherwise.
Which is why; since all American news sources are owned by the top 1%, you won't hear this Associated Press story on any other outlets, unless you post it yourself on your social media, and it goes viral....