November 27th, 2006
Rich still pushing that boulder up the hill, according to the Times
Nope, it wasn’t a one-week phenomenon: after last week’s pair of articles about the plight of the rich as compared to the superrich, the Times is at it again: today’s front page features a story by Louis Uchitelle titled “Very Rich are Leaving the Merely Rich Behind.” Cue the violins:
“The opportunity to become abundantly rich is a recent phenomenon not only in medicine, but in a growing number of other professions and occupations. In each case, the great majority still earn fairly uniform six-figure incomes, usually less than $400,000 a year, government data show. But starting in the 1990s, a significant number began to earn much more, creating a two-tier income stratum within such occupations.
The divide has emerged as people like Dr. Glassman, who is 45, latched onto opportunities within their fields that offered significantly higher incomes. Some lawyers and bankers, for example, collect much larger fees than others in their fields for their work on business deals and cases.”
At least the Times has now acknowledged this is a story they’ll be focused on for some time to come: today’s article has the obligatory box (”Gilded Paychecks: New Paths to a Windfall”) signifying an ongoing series. Any guesses as to what might be next?
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