Richest 1% Continue Getting Richer

MIAMI ( – Florida is touting the new jobs it created Friday after a positive unemployment report. But based on numbers from all W-2’s filed in the country, the wages simply aren’t keeping up.

According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans, saw their earnings fall by $4.5 billion collectively.

The sobering numbers were a far cry from what was going on for the richest one percent of Americans.

The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion.

In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009.

Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.

  • Me

    Yep, that’s what this country has turned into. The rich get richer, and the poor get poorer. It’s soon going to be on rich 1% and poor 99%, no middle class. I have a few rich relatives who just can’t understand why I can’t find a job with a four year degree. They can’t understand why I can’t pay to get my car fixed, or basically eat some days. They never offer to help, even though their kids don’t work and are driving 60k cars. I am trying, but not seeing anything good in my future. Living in Miami not speaking Spanish doesn’t help me neither.

  • William

    We should be happy that their income is up, because that 1% of all Federal Income Tax filers pay 36% of all the taxes collected, and only 5% of all filers pay 58% of all the taxes collected. Anybody who does not pay income taxes (which is almost half of all Americans) doesn’t get to criticize anyone’s income. Besides those big earners head companies that employ millions of people (Jobs, jobs, jobs, everybody is shouting!!)

  • Garry

    I’m fine with rich people getting richer. This is America and when you work hard or are succesful that is what is supposed to happen. It is faulty logic to think that resenting rich people will somehow help those who are still on the journey to better finances. Work hard and you will eventually succceed, uless you live in a socialist or communist country.

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