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Monday, December 12, 2011

"The share of income received by the top 1 percent... dropped to 17 percent in 2009 from 23 percent in 2007..."

... according to federal tax data. 
Within the group, average income fell to $957,000 in 2009 from $1.4 million in 2007....

[T]he drop alters a figure often emphasized by inequality critics, and it has gone largely unnoticed outside the blogosphere.

By focusing on the top 1 percent, the Occupy Wall Street movement has made economic fairness a subject of street protest and political debate.

“It’s very interesting that this has become such a big topic now when the numbers are back to where they were in the 1990s,” said Steven Kaplan, an economist at the University of Chicago’s business school. “People didn’t seem to be complaining about it then.”
What? Occupy Wall Street is not fact-based?!

Yes, yes, I know you're going to drag Obama into this. But what Obama said about OWS was that it reflects "broad-based frustration." He wasn't verifying their facts. Just feeling their pain.

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