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Rich Got Richer in 2012

Rich Got Richer in 2012

America's richest 1 percent took home a record share of income in 2012 -- widening the gap between the haves and have nots in the U.S.

The incomes of the top 1 percent rose more than 19 percent last year, compared with just 1 percent for remaining U.S. Workers. 

“This is why austerity politics is so popular, because it serves those who are already wealthy and maximizes their power,” says Benjamin Franklin with Occupy Houston.

Lou Dobbs at FOX Business Network argues occupiers and the Obama administration have it all wrong.

“What we should be is motivated to achieve success ourselves,” Dobbs tells KTRH News.  “And we must insist on an economic system that for over 200 years has provided great opportunity.”

Unlike John D. Rockefeller, Andrew Carnegie and J.P. Morgan, Dobbs says the founders of Microsoft, Apple and other tech companies typically share liberal beliefs, yet still ship jobs overseas.

“If they are to do business in the world's greatest, richest consumer economy, they're going to have to focus on job creation and investment in this nation and our people's future,” says Dobbs.

Franklin agrees, but insists government also plays a role.

“The ultimate fault essentially lies with government and elected officials by their failing to reign in these companies and horrible people, we shouldn't let them avoid all ethical and moral responsibility,” he says.

Texas meanwhile, added 19,700 private sector jobs in August -- only 1,400 were in manufacturing.

 

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