15 Mind-Blowing Facts About Wealth And Inequality In America

[Magda Hassan]

15 Mind-Blowing Facts About Wealth And Inequality In America

By Gus Lubin

May 07, 2010 "SFGate" -- Real average earnings have not increased in 50 years
The rich are getting richer and the poor are getting poorer.
Cliché, sure, but it's also more true than at any time since the Gilded Age.
The poor are getting poorer, wages are falling behind inflation, and social mobility is at an all-time low.
The gap between 1% and everyone else hasn't been this bad since the roaring Twenties


Source: The Nation
Half of America has only 2.5% of the wealth



Source: Institute for Policy Studies
Half of America has only 0.5% of the stocks and bonds



Source: Institute for Policy Studies
Look at the gap grow!



Source: Professor G. William Domhoff
The last two decades were great... except for American workers




Real average earnings have not increased in 50 years




But savings rates are sinking




Poor Americans have a SLIM CHANCE of rising to the upper middle class



Source: NBER
Republican tax cuts have significantly increased the gap



Source:
Taxes get better and better for the rich




America spreads the wealth FAR LESS than other developed countries




America's income spread is nearly twice the OECD average



Source: Economist
The gap is NOT growing in many countries, like France




Inequality is worst around Wall Street and Oil Land




If you aren't in the top 1%, then you're getting a bum deal




Now read...



20 Cities That Have Completely Missed The Recovery

[Ed Jewett]

Ah, but Magda... what we lack in wealth we more than make up for in love, in being grounded, in service, in our humanity. Let them eat gold and oil. We have soul cake. http://www.youtube.com/watch?v=oKNKJVqbim8

[John Kowalski]

Magda:

Here is a link to a website which describes the effects of inequality on people. Richard Wilkinson is co-author with Kate Pickett of The Spirit Level
and was featured a few days ago on TVO's The Agenda with Steve Paikin. The show discussed the effects of economic inequality on the population. Here is a link below to the equality trust which has an interview with Wilkinson.

John

http://www.equalitytrust.org.uk/why/evidence

[Magda Hassan]

Thanks for that John. A very interesting read. There sure are a million reasons why greater equality is a good thing for all of us.