PDA

View Full Version : 15 Mind-Blowing Facts About Wealth And Inequality In America



Magda Hassan
05-08-2010, 01:25 AM
15 Mind-Blowing Facts About Wealth And Inequality In America

By Gus Lubin

May 07, 2010 "SFGate (http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/04/09/businessinsider-15-charts-about-wealth-and-inequality-in-america-2010-4.DTL)" -- 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

http://static.businessinsider.com/image/4bbca7937f8b9aac23930500-400-300/the-gap-between-1-and-everyone-else-hasnt-been-this-bad-since-the-roaring-twenties.jpg
Source: The Nation (http://www.thenation.com/doc/20080630/extreme_inequality)
Half of America has only 2.5% of the wealth


http://static.businessinsider.com/image/4bbcb3f17f8b9a562fb70000-400-300/half-of-america-has-only-25-of-the-wealth.jpg
Source: Institute for Policy Studies (http://extremeinequality.org/)
Half of America has only 0.5% of the stocks and bonds


http://static.businessinsider.com/image/4bbcb4527f8b9a4e2f9e0100-400-300/half-of-america-has-only-05-of-the-stocks-and-bonds.jpg
Source: Institute for Policy Studies (http://extremeinequality.org/)
Look at the gap grow!


http://static.businessinsider.com/image/4bbcb17c7f8b9a6218b70000-400-300/look-at-the-gap-grow.jpg
Source: Professor G. William Domhoff (http://sociology.ucsc.edu/whorulesamerica/power/wealth.html)
The last two decades were great... except for American workers


http://static.businessinsider.com/image/4bbcaeb47f8b9a812b5a0100-400-300/the-last-two-decades-were-great-except-for-american-workers.jpg

Real average earnings have not increased in 50 years


http://static.businessinsider.com/image/4bbcb53d7f8b9a2e1beb0c00-400-300/real-average-earnings-have-not-increased-in-50-years.jpg

But savings rates are sinking


http://static.businessinsider.com/image/4bbcb4d27f8b9ab517470900-400-300/but-savings-rates-are-sinking.jpg

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


http://static.businessinsider.com/image/4bbcbdbb7f8b9acb194a0300-400-300/poor-americans-have-a-slim-chance-of-rising-to-the-upper-middle-class.jpg
Source: NBER (http://docs.google.com/viewer?a=v&q=cache:hLQccPUpxxUJ:elsa.berkeley.edu/%7Esaez/kopczuk-saez-songSSA07short.pdf+inequality+american+dream&hl=en&gl=us&pid=bl&srcid=ADGEESgcZu5DTakWjtUfRD9uHwtfiCYKn-gxPkgAyDLX1TY1moE6kZwPaJZNt0Pf-SsRP3uwx9keJ6yh9P0F57A4kl0VXI-jtt_3sONluLBHhQmKucl88SxWqvWLPtCy64NfrDsKRzWG&sig=AHIEtbQp0IonNfjbKStXejGlx-w525934Q)
Republican tax cuts have significantly increased the gap


http://static.businessinsider.com/image/4bbca8ea7f8b9a7b16790400-400-300/republican-tax-cuts-have-significantly-increased-the-gap.jpg
Source:
Taxes get better and better for the rich


http://static.businessinsider.com/image/4bbcac9f7f8b9ad2290f0000-400-300/taxes-get-better-and-better-for-the-rich.jpg

America spreads the wealth FAR LESS than other developed countries


http://static.businessinsider.com/image/4bbcaace7f8b9ad31a6f0300-400-300/america-spreads-the-wealth-far-less-than-other-developed-countries.jpg

America's income spread is nearly twice the OECD average


http://static.businessinsider.com/image/4bbcaa2f7f8b9a0726e30400-400-300/americas-income-spread-is-nearly-twice-the-oecd-average.jpg
Source: Economist
The gap is NOT growing in many countries, like France


http://static.businessinsider.com/image/4bbcb8787f8b9ab21b580c00-400-300/the-gap-is-not-growing-in-many-countries-like-france.jpg

Inequality is worst around Wall Street and Oil Land


http://static.businessinsider.com/image/4bbca8257f8b9a0c26440200-400-300/inequality-is-worst-around-wall-street-and-oil-land.jpg

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


http://static.businessinsider.com/image/4bbcabdd7f8b9a0b26b30600-400-300/if-you-arent-in-the-top-1-then-youre-getting-a-bum-deal.jpg

Now read...


http://static.businessinsider.com/image/4ba23c4f7f8b9aa760670300-400-300/now-read.jpg
20 Cities That Have Completely Missed The Recovery (http://www.businessinsider.com/20-cities-where-the-recovery-never-happened-2010-3)

Ed Jewett
05-08-2010, 06:08 AM
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 (http://www.youtube.com/watch?v=oKNKJVqbim8)

John Kowalski
05-09-2010, 12:41 AM
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
05-09-2010, 02:48 PM
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.