You’ve probably seen the hordes of protesters converging on New York in recent weeks, hell bent on occupying the very place where income inequity arguably began: the home of America’s financial markets, Wall Street.
But a new poll shows these self-professed 99 percenters, boycotting the privileged elite at the highest 1% of the income range, aren’t the only ones deeply troubled by the high incidences of income inequity in this country.
According to a new poll conducted by The Hill, nearly three-quarters of the people say that income inequality is a problem for the United States. More than half (55%) surveyed described income inequality is a big problem, while another 19 percent said it was “somewhat of a problem.”
These findings correspond with new information from a Congressional Budget Office report which reveals that the very highest American earners have, as the Huffington Post put it, “been pulling away from the rest of the population for over 30 years.”
As HuffPost writes, “According to the CBO's report, income for the top 1 percent of earners has grown massively since 1979 -- shooting up 275 percent in that time -- while incomes for those in the middle 60 percent grew by only 40 percent. The listless economy, which continues to put pressure on lower- and middle-class earners, may be contributing to the increasingly popular feeling that income disparity needs to be addressed. Some 46 million people, or 15.1 percent of all Americans, currently live below the poverty line. The government counts 14 million people among the unemployed, though the actual figure is probably higher. Wages are essentially stagnant for most Americans, and half the people who do have jobs earn less than $27,000 a year.”
Meanwhile, the rich get richer. With news that the richest 400 Americans control as much wealth as the bottom 50 percent of households, it’s not hard to understand why so many, with so little, are so upset, angry and disenfranchised.
What was once a white picket fence is now a potential foreclosure; what used to be some measure of Social Security is now using retirement just to get by; what would have been the expectation of (and ability to) send your kids — all of them — to college, is now in question, along with all of the other trappings of a now-fleeting American Dream. And like so many insights and incomes in these tough economic times, the middle class is shrinking—short-changed by everything from the fiendish financial industry to a hobbled housing market.
So, whether it be perceptions of the corrupt practices of the financial industry or apathy from the federal government, many Americans are mad, and they’re not taking it anymore. In some cases, to the tune of 1.5 million Americans in 2011 alone, they’re taking their financial futures into their own hands and using bankruptcy to create a better fiscal outlook in 2012 and beyond.
If you’ve been impacted by falling or stagnant income, unemployment or the continuing economic malaise, and are wondering how to get back on track, knowing a qualified bankruptcy attorney can also help you to conquer your creditors and face your financial fears, yielding the right kinds of support, information and insights—at a low cost— for a viable and secure future beyond our own “Great Recession.” The bankruptcy attorneys at the Law Offices of John T. Orcutt offer a totally FREE debt consultation and now, more than ever, it’s time to take them up on their offer. Just call toll free to +1-888-234-4190, or during the off hours, you can make your own appointment right online at www.billsbills.com. Simply click on the yellow “FREE Consultation Now” button.