Rick Malloy, S.J., is a Jesuit priest and cultural anthropologist. He is the author of _A Faith That Frees: Catholic Matters for the 21st Century (2007) and _Being on Fire: The Top Ten Essentials of Catholicism_ (2014), both published by ORBIS Books
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Friday, January 20, 2012
Newsweek lays out the case for class warfare. The rich are winning
Read it and weep. http://www.thedailybeast.com/newsweek/2012/01/15/niall-ferguson-a-conservative-take-on-america-s-economic-divide.html
Rich America, Poor America. Newsweek Jan 23, 2012.
"Adjusted for inflation, the income of the average American male has essentially flatlined since the 1970s, according to figures from the Census Bureau. The income of the bottom quarter of U.S. families has actually fallen. It’s been a different story for the rich."
Median compensation for CEOs of 500 largest corporation
1970 $1 million
2010 $13 million (1200% increase)
Median income in USA
1975 $12,000
2010 $49,000 (308% increase)
Percentage of income going to the top 1%
1933 24%
1973 09%
2007 24%
2015-09-15 zhengjx
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