- United States has one of the highest concentrations of wealth of any modern democracy
- 2007, top 1% of households (the upper class) owned 34.6% of all privately held wealth
-19% (the managerial, professional, and small business stratum) had 50.5% of all privately wealth
- just 20% of the people owned 85% of all privately heldwealth
- leaving 15% of the wealth for the bottom 80% (wage and salary workers).
-top 1% of households had 42.7% of the nation's financial wealth (total net worth minus the value of one's home)
- Edward Wolff states that there has been a 36.1% drop in the wealth (marketable assets) of the median household since the peak of the housing bubble in 2007, in contrast to a 11.1% drop by the top 1% of households
-as of April 2010, the wealth distribution is even more unequal than it was in 2007. (See Wolff, 2010 for more details.)
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
toldailytopic: Is it wrong for the government to take money from one person and give - a more relevant topic will how much more can the bottom 80% of households be financially squeezed before America experiences major social unrest?
- 2007, top 1% of households (the upper class) owned 34.6% of all privately held wealth
-19% (the managerial, professional, and small business stratum) had 50.5% of all privately wealth
- just 20% of the people owned 85% of all privately heldwealth
- leaving 15% of the wealth for the bottom 80% (wage and salary workers).
-top 1% of households had 42.7% of the nation's financial wealth (total net worth minus the value of one's home)
- Edward Wolff states that there has been a 36.1% drop in the wealth (marketable assets) of the median household since the peak of the housing bubble in 2007, in contrast to a 11.1% drop by the top 1% of households
-as of April 2010, the wealth distribution is even more unequal than it was in 2007. (See Wolff, 2010 for more details.)
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
toldailytopic: Is it wrong for the government to take money from one person and give - a more relevant topic will how much more can the bottom 80% of households be financially squeezed before America experiences major social unrest?
Last edited: