I read an article about the gap of income between
the rich and the poor from Mother Jones.
It was entitled “The Rich Just Keep Pulling Away From the Rest of Us”. It
states that super rich people are doing very well recently.
New income inequality figures show that incomes of the top 1% have grown by 31
percent, while the incomes of the
other 99% have been flat. Even though apologists for the rich may say that the
net income of the rich has decreased more seriously than that of the non-rich,
we have to admit that the rich is always better than the rest. Firstly, it is
because of the large income base of the rich. Suppose a millionaire, who lost
16.3 percent on his income. He was still better than the one who made 15 bucks
an hour and lost 11.2 percent of income. Secondly, the economic expansions are
always happen on the rich. Even though they may suffer succession, the rich
still gain from expansion. As a result, their net gains are always higher than
the rest of us. Economic cycles and statistics from historical era also have also
shown that the rich have always pulled ahead.
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