In a recent post I used a statistic that appeared in a Bob Herbert New York Times column. It incorrectly stated that Americans making more than $50 million a year had seen a huge increase in their earnings between 2008 and 2009, when their earnings had actually decreased by 7.7 percent in that period.
Herbert apologized today for using this incorrect statistic in his column. I would like to do the same here.
We live in difficult times. And like so many other Americans, folks making $50 million or more are clearly feeling the pain. For them a 7.7 percent income decrease leaves barely more than $46 million to live on — for an entire year!
So to any visitors to TMV who make $50 million a year or more, and felt in any way offended or hurt by my reportage, I apologize. Contrive, somehow, to survive even in your own much diminished circumstances. And go forward with the certain knowledge that with old and trusted friends soon calling the shots in Funnytown on the Potomac, things will certainly improve for you very, very soon.
Improvement for the rest of us? Not so certain.
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