Effect of taxes widens the gap between rich and poor

According to newly released information from the Congressional Budget Office, the middle class continues to be squeezed as the wealthy accumulate a larger share of annual income.

The government report, ordered by Congress, notes that the top 1% of earners realize 17% of nationwide after-tax income.  This is an increase from 8% in 1979.  Additionally, the top 5% of earners now realize 53% of nationwide after-tax income.  That means that 5% of earners generate more income than the lower 95% combined.

Lets hope we all can make it into the top 5% of earners some day …

Source: feeds.networkingphoenix.com

Matthew O'Brien

With over 20 years of experience in the digital media world, Matthew has worked for and with Fortune 500 businesses and has built companies from the start-up stage to exit strategy. He recently helped develop a data insight engine to bridge the gap between search, social, and mobile marketing to maximize the visibility, relevancy, and predictive success of online businesses.

Matthew is the founder of MINT Social, an award-winning digital marketing company that accelerates online marketing results to help businesses get found and thrive online. 

Matthew has developed an educational curriculum for Universities on social media for businesses, is a founding board member of the Arizona Innovation Marketing Association (AZIMA), a board member of HeroZona Foundation and on the advisory board (Vinnies) for St. Vincent de Paul - Phoenix.  Matthew is a mentor with ASU Entrepreneurship and Innovation Group, a speaker on social media and digital marketing, and is a subject matter expert with many online portals.

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