Ray,did you even read the article?Most billionaires were millionaires first so yes the rich get richer.Most of our newest billionaires have made their wealth on Wall Street and arent putting people to work.
Who even mentioned labor unions?I've never been a member.
Lots of us middle class people have taken a beating lately on our retirement funds at the places where we work..In the past year a friend has lost $80,000 out of his retirement fund and he was in some pretty conservative stuff.He may now have to postpone retirement and he has cancer!Most wages around here havent gone up in 5 years due to rapidly rising healthcare costs.
The following is a quote out of that article.I assume that it must be pretty factual.
Between 1983 and 2004, the average wealth of the top one percent of households grew by 78 percent, reports Edward Wolff, professor of economics at New York University. The bottom 40 percent lost 59 percent. In 2004, 1 out of every 6 households had zero or negative net worth. Nearly 1 out of 3 households had less than $10,000 in net worth, including home equity. That’s before the mortgage crisis hit.
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