September 13, 2013 at 6:58 AM
Top 1% takes record share of income in the U.S.
Economy not finite
I was appalled by the article in today’s Times about the top earners in the nation. [“Top 1% take a record share of U.S. income,” page one, Sept. 11.]
The article says “The top 1 percent took more than one-fifth of the income earned by Americans,” implying that a dollar earned by one person means a dollar less for someone else.
It’s not a finite pie. In fact, when a business owner (most of the “one percent”) makes a profit, the odds are proportionately increased that another job will be created.
This entrepreneur got to be part of the “one percent” the same way most of us did: through hard work, sacrifice, eschewing the security of a paycheck and benefits (which we provide to our employees) and laying everything we own on the line every day.
Most of us went years being the last one to get paid, if we got paid at all.
Terry Cole, Bellevue
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