This website is a member of Liberty Alliance, which has been named as an company.

Obama Recovery: Median Household Wealth Down Dramatically, Top 1% Up 71%

Thursday, November 29, 2012

obama-erm

President Obama’s supposedly sterling recovery hasn’t just crushed the middle class – it’s benefitted the top 1 percent, the very folks Obama says he wants to tax for purposes of fairness. Perhaps he should start by cutting out subsidies for his favorite rich people, particularly those who support him financially.

According to NYU economics professor Edward Wolff, the median wealth of American households is down shockingly from 2007 to 2010; the top 1 percent, however, increased their wealth by a stunning 71 percent. So much for building a newer, fairer economy. The measure of wealth is largely based on asset holdings, including real estate, and the real estate market collapse hit middle class households disproportionately.

Post Continues on www.breitbart.com

Posting Policy
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read more.