The rich keep getting richer

A recent story published on The Connecticut Mirror Web site - www.ctmirror.org - illustrates the growing disparities between the upper-income and middle-income classes. Citing statistics from the Connecticut Department of Revenue Services, it notes that during the stretch from 2002 to 2008 the collected adjusted gross income of filers earning more than $1 million annually increased more than 230 percent, more than 10 times greater than other wage earners.

In other words, the rich got much richer.

Beginning in 2008, the stock market collapse did hammer wealthy investors. The Dow Jones industrial average plunged more than 6,500 points from the beginning of 2008 until reaching its low point of 6,626 points on March 6, 2009. Since then, however, the market has seen robust growth and on Thursday was trading at around 10,600 points. Good news indeed for investors.

The news is not so good for the working class, with wages stagnant and state unemployment levels flirting with 10 percent.

There is nothing wrong with an investor getting a good return. And capital, invested in productive businesses, generates jobs. But the nation cannot afford a repeat of the disconnect between wealth production and job production seen during the last growth cycle.

The middle class is the foundation of the American economy, and it remains under attack. Restoring it - and sensible economic balance - must be the highest priority.