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Words: | Submitted: Mon Jun 19 2006
... billion dollars in 1922, to an astonishing $89 billion dollars in 1929. On paper this jump looked good, but the gains were so unevenly distributed. Unbelievably, the bottom 40% of American's income was equal to that of the top 0.1% of American's income showing that the gap between the wealthy and the poor was insurmountable. Also, the minute 0.1% of Americans possessed 35% of the nation total savings while almost a third of the country had no savings at all. Disposable income was on a hefty rise from 1922-1929, but an already healthy higher class swallowed up the surplus. Even with incomes rising most families had to spend entire annual incomes on the necessities such as food, water, and other consumer goods. Now, the top 25% of Americans owned more than half of our nation's income. The United States growth came from the working class American putting in hours on ...
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