Congressional Republicans Share The Christmas Spirit — With The One Percent
Jim Hightower pities the “struggling” one percent, but notes that Congress still has their backs in his new column, “The Poor Rich And The Scrooginess Of Congress:”
It’s at this time of the year that generous, big-hearted Americans reach out to aid the less fortunate among us — like those who’ve recently been knocked down by the recession and seen their incomes plummet. I speak, of course, about our nation’s severely squeezed millionaires.
Yes, many in the infamous 1 percent class are no longer feeling like a million bucks. According to a new federal report, the income of these high-living swells averaged a robust $1.4 million in 2007, but after Wall Street crashed in a heap of greed late that year, their average income took a tumble. In 2009, it fell below the millionaire threshold, leaving these poor rich folks struggling to make it on an average income of only $957,000.
Also, talk about getting a lump of coal in your Christmas stocking, the share of our nation’s total income taken by the 1-percenters fell from a whopping 23 percent in 2007 (the highest since the Roaring Twenties) to a mere 17 percent in 2009. How sad for them, huh?
