california riches

"We are still a very rich society. In two years alone, Californians will have added more than $100 billion to their personal income." announced Jerry Brown, Governor of California.

Given that 20 percent of all income in the U.S. goes to the top 1 percent of Americans. $20 billion of that new income will go to the very richest Californians. More than 60 percent of all income earned goes to the richest 20 percent, which would mean $60 billion in income to people who are already richer than four of five Californians.

That leaves $20 billion out of a $100 billion for the remaining 80 percent of Californian people to divvy out. Yippers, we all got richer, didn't we?