Remember the so-called "Gilded-Age" when the100 room+ cottages were built in Newport?
According to John Kerry, at a speech given in Hudson at the Middlesex-Worcester Dem Alliance Brunch today:
In 1980, the top 1% in income took home 8% of the total income in the US.
In 2005-2006 the top 1% took home 23% of the total income in the US!
This goes along with today's Globe, which states that income in
Belmont increased 43.3 % between 2001and 2006 - but income in Lawrence
declined. The average income in Harvard increased 31.3% to $169,
370.00, the average income in Lexington also saw a double-digit
increase to $157,388 - while Burlington, Billerica barely increased
their average of $57-67,000.00 - and the average income of about
$20,000.00 in Lawrence declined. Here's the full story with graphs.
Tax cut mania has benefitted the rich, who are getting richer.
Tax cuts have not benefitted those at or near the poverty line, nor
most of the folk earning $40,000-$70,000 or thereabouts.
Crossposted at BlueMassGroup
