Only twice before over the last century has 5 percent of the national income gone to families in the upper one-one-hundredth of a percent of the income distribution — currently, the almost 15,000 families with incomes of $9.5 million or more a year, according to an analysis of tax returns.
Such concentration at the very top occurred in 1915 and 1916, as the Gilded Age was ending, and again briefly in the late 1920s, before the stock market crash.
Obscene salaries send the wrong message through a company. The message is that all brilliance emanates from the top; that the worker on the floor of the store or the factory is insignificant.
Republican corporate and tax welfare tend to promote the concentration of wealth at the top of our society.
16 July, 2007
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