Market Failure: With Statistics!
The Congressional Budget Office of the United States offers the following, as reported in the New York Times:
The increase in incomes of the top 1 percent of Americans from 2003 to 2005 exceeded the total income of the poorest 20 percent of Americans… The poorest fifth of households had total income of $383.4 billion in 2005, while just the increase in income for the top 1 percent came to $524.8 billion, a figure 37 percent higher.
Yikes.
Something is wrong with corporate capitalism. And not just for the bottom 20% of Americans.
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