For several decades Dovid a father of a large Orthodox New York family seemed to be living the “American Dream.” A graduate of one of the country’s most prestigious universities Dovid worked his way up the ranks becoming a senior manager and departmental head at several multinational corporations. His compensation package reflected his hard work talent and the appreciation of his higher-ups.

Along came the recession. Dovid’s superiors notified him that his entire unit was being dismantled. Suddenly bereft of a livelihood in a market where new jobs were scarce Dovid upgraded his expertise by learning some new skills in an “up and coming” field where he eventually found a job. However even when totaling his experience and new skills he is now earning less than he did decades ago as a rookie in his previous field.

Dovid is thankful to Hashem for being a breadwinner once again but can barely hide his mistrust of the corporate world that callously cut him down in his prime. “The official reason we were given for the layoffs was ‘the economic downturn’” he says “but I have no doubt that it was simply a ruse to siphon off money from our department and transfer it to another part of the company that some executive preferred.”

Others involved in the corporate world report a better and different experience. 

Shortly after leaving kollel in the 1990s Moshe landed an entry-level job at a major New York firm. Despite subsequent economic turmoil Moshe has quickly risen through the ranks and now holds a respectable and lucrative managerial position. He admits that the job market is tougher than it was when he entered and employees often grumble about executive decisions; but by and large he says employees still have bright prospects when they perform well.

“We shouldn’t paint corporate executives with the same brush. They are mostly hardworking individuals looking to get ahead in a grueling climate and fulfilling their duties to shareholders.”

Us and Them

Whether caused by rabble-rousing jealousy an unfair societal trend or tax cuts that favor the wealthy income disparity between America’s various classes has increasingly come under scrutiny.

The nationwide Occupy Wall Street protests have garnered extensive attention. President Obama recently delivered a high-profile speech highlighting income inequality in the country. Even Republican presidential frontrunner Mitt Romney finds himself fending off harsh attacks about his role in the venture capital firm Bain Capital where he often maximized corporate profits by laying off workers.

The “1 percent versus the 99 percent” has become a catchphrase in the American discourse highlighting the vast disparity between the highest income earners and the masses. Are the good fortunes of the few leaving the rest of us behind?

Judging by the numbers those crying foul have a sound argument.

According to the nonpartisan Congressional Budget Office after-tax real household income from 1979 to 2007 adjusted for inflation grew 15 times faster for the nation’s top 1 percent of earners compared to the bottom 20 percent. When taking overall wealth into account the disparity becomes greater. According to a New York Times report from last year the wealthiest 1 percent own about one-third of the nation’s wealth and the top 20 percent owns more than 80 percent of US wealth. 

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