Scary distribution of weath in the US

[karadinart]

factoid: the top 1% in the US (as of 2007) hold 40% of the nations wealth. The lower 80% or 8 out of 10 americans, only hold 7% of the nation's wealth between them.

the top 1% (as of 1970) only owned 9% of the nation's income, now they hold %24, which is triple the income.
the top 1% hold 50% of the nation's stock/bonds/assets. The lower 50% of the nation only hold 1/2 of 1% of these assets, because they are so poor, they have no money to invest


PS - video uses 2007 data, and the situation has only gotten worse.

Comments

[shadowfireflame.livejournal.com]

Thanks for linking this. It's a terrifying wake-up call. I can't believe it's only gotten worse. Like, how could this possibly get worse, it's so bad already?!

[karadin.livejournal.com]

yep, and it's pretty insane how the myth of America 'ie: work hard and you will be rich' make it allowable for the free market to rule anything, and the concept, if you ask for anything, you are getting a free ride, or cheating, it's such bullshit. There should be plenty to go around for everyone, at it was more equitable, now it is certainly not, greed rules the day.