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Used to describe the ultra-rich in America in the context of income and wealth disparity. First Used by Phil Davis of Philstockworld.com, who points out the vast difference between the top 1% and the bottom 99%, a mantle that was later taken up by the Occupy Wall Street movement.
The top 1% are the only ones benefiting from the current economic expansion.
by Philstockworld November 21, 2014
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