A Few Financial Facts to Think About
* After-tax income of the rich: Between 1979 and 2005, the average after-tax income of the top 1% increased by 176%, compared with an increase of only 6% for the bottom 20%.
* Inflation effects on the working class: Between 1990 and 2005, the purchasing power of the federal minimum wage actually declined by 9.3% when adjusted for inflation.
* US Debt is now $22 trillion and mounting at a trillion a year.
* Stocks vs. GDP: Normally, the stock market is worth about 80% of GDP. Now, it is worth 150% of GDP. That’s equivalent to $14 trillion.
* Corporate pre-tax earnings are the same today as they were in 2012. Yet the market valuation is $14 trillion greater.