The Rich Get Richer

And the Rest of Us Pay for It. Numbers from the US Census Bureau show the gap between rich and poor is widening. Today, the richest 20% take in 50% of incomes. Everyone else’s share fell. The bottom 20% only account for 3.5% of incomes. Back in February, Donald L. Barlett and James B. Steele reported in TIME that the 400 richest Americans account for $29 million in combined annual income. They said it took 504,600 retail clerks at Wal-Mart to equal the 400 richest Americans’ incomes. Last week, the Congressional Budget Office reported that the tax burden had shifted from the rich to the middle class – folks who make around $57,000 a year. (MSNBC)

Terrorizing the Economy. A survey by the National Association for Business Economics finds economists rank the threat of terrorism as the biggest threat to the economy. It tops deficits and slow job growth as the top short term threat. (MSNBC)

October Surprise. Sources in Pakistan involved in the sudden rash of surprising terrorist arrests since the Democratic National Convention says the Bush Administration is stepping up pressure on Pakistan to catch some big name terrorists before the Presidential election. (LAT)

Sounding the All Clear. Saudi Arabia--home to 14 of the 19 hijackers in the 9/11 attacks—is touting the 9/11 Commission Report as clearing them of being lax on terrorists. The Kingdom is running ads in 19 US cities talking about what wonderful allies they are of the US. (FOX News)