David_42
Registered Democrat.
- Aug 9, 2015
- 3,616
- 833
- 245
Everything to do with wealth and income inequality. I will post in this thread whenever something relevant to the two appears, or try to.
Let's begin:
America now has more wealth and income inequality than any major developed country on earth, and the gap between the very rich and everyone else is wider than at any time since the 1920s.
There is something profoundly wrong when the top one-tenth of one percent owns almost as much wealth as the bottom 90 percent.
There is something profoundly wrong when 58 percent of all new income since the Wall Street crash has gone to the top one percent.
Despite huge advancements in technology and productivity, millions of Americans are working longer hours for lower wages. The real median income of male workers is $783 less than it was 42 years ago; while the real median income of female workers is over $1,300 less than it was in 2007. That is unacceptable and that has got to change.
There is something profoundly wrong when we have a proliferation of millionaires and billionaires at the same time as millions of Americans workl onger hours for lower wages and we have the highest childhood poverty rate of any developed country on earth.
Racial Inequality:
Racial Inequality | Inequality.org
Everything Else:
The wealth share of America’s top 3 percent, Fed researchers calculate, rose from 44.8 percent of the nation’s wealth in 1989 to 51.8 percent in 2007 and 54.4 percent in 2013. The top 3 percent now hold over double the wealth of America’s poorest 90 percent of families.
Let's begin:
America now has more wealth and income inequality than any major developed country on earth, and the gap between the very rich and everyone else is wider than at any time since the 1920s.
The reality is that since the mid-1980s there has been an enormous transfer of wealth from the middle class and the poor to the wealthiest people in this country.
There is something profoundly wrong when the top one-tenth of one percent owns almost as much wealth as the bottom 90 percent.
“Just as the commandment ‘Thou shalt not kill’ sets a clear limit in order to safeguard the value of human life, today we also have to say ‘thou shalt not’ to an economy of exclusion and inequality. Such an economy kills. How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points?” – Pope Francis
There is something profoundly wrong when 58 percent of all new income since the Wall Street crash has gone to the top one percent.
Despite huge advancements in technology and productivity, millions of Americans are working longer hours for lower wages. The real median income of male workers is $783 less than it was 42 years ago; while the real median income of female workers is over $1,300 less than it was in 2007. That is unacceptable and that has got to change.
There is something profoundly wrong when we have a proliferation of millionaires and billionaires at the same time as millions of Americans workl onger hours for lower wages and we have the highest childhood poverty rate of any developed country on earth.
Racial Inequality:
Racial Inequality | Inequality.org
Everything Else:
The wealth share of America’s top 3 percent, Fed researchers calculate, rose from 44.8 percent of the nation’s wealth in 1989 to 51.8 percent in 2007 and 54.4 percent in 2013. The top 3 percent now hold over double the wealth of America’s poorest 90 percent of families.
The vast majority of American families — 94.5 percent, the latest Federal Reserve survey data make clear — hold one sort of financial asset or another, from savings and checking accounts to stocks and cash-value life insurance policies. But the overall ownership of these financial assets has become stunningly concentrated. America’s richest 10 percent now hold nearly 85 percent of these assets. In 1989, the nation’s richest tenth of families held 79 percent of them.
Share of household wealth:
The Forbes 400 paints a disturbing picture: