Thursday, April 28, 2005
Source: Arthur B. Kennickell, "A Rolling Tide: Changes in the Distribution of Wealth in the U.S., 1989-2001," Table 10. (Levy Economics Institute: November, 2003)
Source: Edward N. Wolff, "Recent Trends in Wealth Ownership, 1983-1998," Levy Institute Working Paper No. 300, Table 3. (Levy Economics Institute: April, 2000)
Let's not forget that this covers only the Reagan, Bush I, and Clinton years. By 2003, the Bush administration had managed to get the number of Americans living below the poverty line to nearly 36,000,000 or about 12.5% of the US population. The number of people living without health insurance jumped by about a million and a half from 2002 to 2003, to about 45,000,000.
But that top 1%?
Oh, baby, LIFE IS GOOOOOD!!!