Saturday, October 13, 2007

New Heights

Income Inequality Gap"The wealthiest 1% of Americans earned 21.2% of all income in 2005, according to new data from the Internal Revenue Service. That is up sharply from 19% in 2004, and surpasses the previous high of 20.8% set in 2000, at the peak of the previous bull market in stocks ...

... Scholars attribute rising inequality to several factors, including technological change that favors those with more skills, and globalization and advances in communications that enlarge the rewards available to "superstar" performers whether in business, sports or entertainment."
WSJ - Income-Inequality Gap Widens

Obviously the rich know how to make money and how to make their money make more money. And if they can do it then why can't you. To me this is a reaffirmation that in a free society, which supports free enterprise and entrepreneurship - the sky is the limit.

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