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A New Gilded Age Threatens The State Of Our Union

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The numbers are shocking — assuming that we still have the capacity for shock — and they will form the backdrop for President Barack Obama’s State of the Union speech on Tuesday.

The president will declare himself a foe of “income inequality,” with good reason: As a nation, we have climbed out of the deep hole of the Great Recession, but we have not done so as a whole people.

For the first time since precise recordkeeping began a century ago, 10 percent of Americans take in more than half the country’s income.

In the last 40 years, the income of the top 1 percent of Americans has quadrupled, while incomes for everyone else have stagnated.

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The Greatest Rags To Riches Story Of All Time

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by Meredith Galante and Gus Lubin As the world plunges head first into a New Gilded Age, we’re taking a look back at the first Gilded Age. One of the most impressive figures of this era was an immigrant textile worker who became the richest man in the world. We’re talking about the mighty Andrew Carnegie.

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http://www.mandatory.com/2012/11/20/the-greatest-rags-to-riches-story-of-all-time/?icid=maing-grid7|myaol|dl3|sec1_lnk3%26pLid%3D236794

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