95% of all the additional national income in the U.S. goes to the top 1%, that’s not an Occupy Wall Street slogan, that’s a fact. [alternet.org]
Discussing the economy, Gore lamented that “we have rising levels of inequality and chronic underinvestment” in public programs. He reminded the crowd that when “95 percent of all the additional national income in the U.S., since the recovery began in 09, goes to the top one percent, thats not an Occupy Wall Street slogan, thats a fact.”
Gore may have been alluding to the tech economy becoming a significant driver of that inequality.
As Princeton economist Alan Blinder noted in a January Wall Street Journal op-ed, technology is “clearly the major villain” in rising economic inequality, as “e-commerce eliminated many ordinary jobs while enhancing the opportunities and rewards for some extraordinary jobs.” One way to see this is in the app economy, which often rewards billions to companies with a relatively few employees, thus concentrating wealth in fewer hands.