During the last 35 years, the share of the national income earned by the bottom 60% (70,000,000) of US households decreased from 35% to 27%. The top 5% increased from 16% to 22%.
Average income of the bottom 60% increased 13%. Average income of the top 5% increased 79%. Their AVERAGE annual income was $295,000.
No wonder they complain on CNBC TV nearly every day about Obama’s ‘class warfare’! Such privation. You can’t buy a jet on that, nor a decent size island.
But don’t worry. The trickle down Reaganomics will start to work on the 9.6% unemployment rate any day now. Their tax cuts will soon get that National Debt under control too.
SOURCE: MarketWatch article on middle class.

Socialist class warfare as espoused by Democrat kook above leads to loss of liberty and human life. Look at the history of Socialis. 100 million dean (not counting wars). That is because you are given power to “direct the economy” you tend to use it to liquidate dissidents.

The flaw in Mr Simpson’s argument above is that assumes static classes of people. Mr Simpson assumes that the top 2% in 1980 are the same top 2% in 2010. As common sense would tell you and facts show people move up and down the income and social ladder aover time. The Forbes 400 list in 1980 is not the same as the Forbes 400 list in 2010. The Democrat/Socialists need class envy to sell to the unsuccessful as a means to get control. At the end of the day the unsuccessful will remain unsuccessful. I saw this in Cuba, The question is if Mr Simpson is unhappy with his level of success how will taking wealth away from others make him happy. If he is a loser will being surrounded by other losers make him happier. I think not. Better to advance yourself until you are happy with your station in life.