During the president’s speech today someone somewhere decided he’d said the average income of people in the 1% was $27 million, wildly higher than it actually is, which is a bit over $1.2 million a year. Only he didn’t say that. He said that was the income of the top 100th of the 1%.
If you look at the transcript it’s clear ..
Look at the statistics. In the last few decades, the average income of the top one percent has gone up by more than 250%, to $1.2 million per year. For the top one hundredth of one percent, the average income is now $27 million per year. The typical CEO who used to earn about 30 times more than his or her workers now earns 110 times more. And yet, over the last decade, the incomes of most Americans have actually fallen by about six percent.
But there was some question of whether the president bobbled the numbers when he read it. But he didn’t.
Just to settle the issue, here’s the video …
Again, not the biggest thing in the world. But just doing our small part to shut down a small piece of misinformation.
