The Rich Get Richer

Paper Summary:

The disparity between the topone percent of income earners and the rest of the population is growing rapidly. This paper examines this phenomenon using the theoretical perspective of Karl Marx. It also discusses the blind spots that are apparent in Marx's approach, as it relates to the current disparity in income between classes.

From the Paper:

"Very few people in the United States are unfamiliar with the saying "the rich get richer and the poor get poorer." There seems to be some truth to that, in American society. According to David Cay Johnston, writing in the New York Times, the disparity between the top .1 percent of income earners and the rest of the population is growing rapidly. This paper will examine this phenomenon using the theoretical perspective of Karl Marx. It will also discuss the blind spots that are apparent in Marx's approach, as it relates to the current disparity in income between "classes." Issue Summary Johnston describes the disparity between the top .1 percent of income earners and the rest of the population. This top .1 percent represents only about 145,000 taxpayers. These taxpayers have an annual income of "at least $1.6 million in income and often much more" (par. 4). "

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