Thursday, May 26, 2011

Quick Facts: Wealth inequality in the US



Source: Press TV
http://www.presstv.ir/usdetail/181748.html

Highlights

As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth. The next 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%. Who rules America? Only 15% of the wealth went for the bottom 80% (wage and salary workers). Who rules America?

The top one percent of households has 38.3% of all privately held stock, 60.6% of financial securities, and 62.4% of business equity. Who rules America?

More than half of the members of the U.S. Congress are millionaires. The wealthiest member of Congress has a minimum net worth of $167.55 million. Investinganswers.com

In 2010, all members of Congress earned at least $175,000. This is far, far more than the average American makes. Investinganswers.com

Wealth inequality

As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth. The next 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%. Who rules America? Only 15% of the wealth went for the bottom 80% (wage and salary workers). Who rules America?

More than 40 percent of the population has less than $10,000 saved for retirement. That could take a toll in the long run. Las Vegas Sun

Stock ownership

The top one percent of households has 38.3% of all privately held stock, 60.6% of financial securities, and 62.4% of business equity. Who rules America?

The top 10% have 80% to 90% of stocks, bonds, trust funds, and business equity, and over 75% of non-home real estate. Who rules America?

Since financial wealth is what counts as far as the control of income-producing assets, we can say that just 10% of the people own the United States of America. Who rules America?

The rich in Congress

House Speaker Nancy Pelosi's net worth soared from $13.7 million in 2008 to $21.7 million in 2009. Investinganswers.com

More than half of the members of the U.S. Congress are millionaires. The wealthiest member of Congress has a minimum net worth of $167.55 million. Investinganswers.com

In 2010, all members of Congress earned at least $175,000. This is far, far more than the average American makes. Investinganswers.com

The median wealth of a U.S. Senator in 2009 was $2.38 million. Investinganswers.com

Insider trading is perfectly legal for members of the U.S. Congress -- and they refuse to pass a law that would change that. Investinganswers.com

The personal wealth of members of the U.S. Congress collectively increased by more than 16% from 2008 to 2009. Investinganswers.com

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