Eight years of hope and change for the 1 percent only

WHY IT MATTERS: Income inequality

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FILE - In this May 4, 2016, file photo, Duncan Wallace drives a golf cart from his house to his golf club as a group of landscape workers take a break in Vista, Calif. Income inequality has surged near levels last seen before the Great Depression. The average income for the top 1 percent of households climbed 7.7 percent last year to $1.36 million, according to tax data. That privileged sliver of the population saw pay climb at almost twice the rate of income growth for the other 99 percent, whose pay averaged a humble $48,768. (AP Photo/Gregory Bull, File)

WASHINGTON (AP) — THE ISSUE: The rich keep getting richer while more Americans are getting left behind financially. 

Income inequality has surged near levels last seen before the Great Depression. The average income for the top 1 percent of households climbed 7.7 percent last year to $1.36 million, according to tax data tracked by Emmanuel Saez, an economics professor at the University of California, Berkeley. That privileged sliver of the population saw pay climb at almost twice the rate of income growth for the other 99 percent, whose pay averaged a humble $48,768. 

But why care how much the wealthy are making? What counts the most to any family is how much that family is bringing in. And that goes to the heart of the income-inequality debate: Most Americans still have yet to recover from the Great Recession, even though that downturn ended seven years ago. The average income for the 99 percent is still lower than it was back in 1998 after adjusting for inflation. 

Meanwhile, incomes for the executives, bankers, hedge fund managers, entertainers and doctors who make up the top 1 percent have steadily improved. These one-percenters account for roughly 22 percent of all personal income, more than double the post-World War II era level of roughly 10 percent. One reason the income disparity is troubling for the nation is that it's thinning out the ranks of the middle class.

There's more at the link. Remember, the real goal of the vanguard of the revolution is for themselves to become filthy, stinking rich at the expense of the proles.