Quick Hit Aricka Flowers Tuesday July 26th, 2011, 4:38pm

A Sobering Look At Income Disparity In The U.S. (VIDEO)

With all of the talk from Republicans about the need to cut services for the poor and those with low-incomes in order to save the nation from defaulting on its debt, you'd think that the nation's richest residents have been in a hard way for the past several decades since suggesting the alternative idea of raising taxes on the rich is almost akin to treason in the eyes of some conservatives.

It appears that Republicans in Washington would rather play politics with the global economy and inflict even more hardship on the neediest Americans, instead of raising taxes on the very people who have seen their wealth absolutely skyrocket over the last several decades while average Americans shouldered the brunt of many economic losses.

An interactive graphic by the Economic Policy Institute (EPI) lays it out very nicely. Using a slider looking at years 1917 through 2008, users can manipulate the tool to see how much income has grown between the chosen time period as well as what percentage of that growth was seen by the rich and what portion was felt by the bottom 90 percent of earners in the U.S. 

Here's some notable figures we found while using the graphic:

  • Between 1917 and 2008: Average incomes in the U.S. grew by $38,216; The richest 10 percent got 51 percent of that growth; The bottom 90 percent shared 49 percent
  • Between 1969 and 2008: Average incomes in the U.S. grew by $11,684; All growth went to the richest 10 percent; Income for the bottom 90 percent declined
  • Between 1985 and 2008: Average incomes in the U.S. grew by $10,061; The richest 10 percent got 95 percent of that growth; The bottom 90 percent shared 5 percent
  • Between 1986 and 2008: Average incomes in the U.S. grew by $6,894; All growth went to the richest 10 percent; Income for the bottom 90 percent declined
  • Between 1999 and 2008: Average incomes in the U.S. grew by $3,052; The richest 10 percent absorbed 15 percent of that drop; The bottom 90 percent absorbed 85 percent
  • Between 2003 and 2008: Average incomes in the U.S. grew by $2,688; All growth went to the richest 10 percent; Income for the bottom 90 percent declined 
  • Between 2005 and 2008: Average incomes in the U.S. grew by $2,334; The richest 10 percent absorbed 51 percent of that drop; The bottom 90 percent absorbed 49 percent

Looking at these numbers, who should be making the sacrifice conservative politicians say is necessary from saving the nation from default? It looks like it should be the nation's richest considering how well those with the highest incomes have made out over the last several decades.

Here's a video that, although presented in almost a dry, Ben Stein manner, provides a pretty interesting visual look at how income is distributed in America. Check it out:

Check out the EPI graphic here.

Image courtesy of the Examiner.

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