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

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