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  • It's The Inequality, Stupid

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    paliacho78362
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    A huge share of the nation's economic growth over the past 30 years has gone to the top onehundredth of one percent. In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes; the top 1% had just 10%. A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the united states.

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    A huge share of the nation's economic growth over the past 30 years has gone to the top onehundredth of one percent. In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes; the top 1% had just 10%. A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the united states.

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    34 visualizações10 páginas

    It's The Inequality, Stupid

    Enviado por

    paliacho78362
    A huge share of the nation's economic growth over the past 30 years has gone to the top onehundredth of one percent. In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes; the top 1% had just 10%. A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the united states.

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    Attribution Non-Commercial (BY-NC)
    Baixe no formato DOCX, PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    de 10

    It's the Inequality, Stupid

    Illustrations by Jason Schneider

    Eleven charts that explain everything that's wrong with America.


    By Dave Gilson and Carolyn Perot March/April 2011 Issue

    A huge share of the nation's economic growth over the past 30 years has gone to the top onehundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.

    Advertise on MotherJones.com

    Note: The 2007 data (the most current) doesn't reflect the impact of the housing market crash. In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes. The top 1%, in contrast, had just 10%. The housing crisis has no doubt further swelled the share of total net worth held by the superrich. The superrich have grabbed the bulk of the past three decades' gains.

    A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the United States. Most thought that its more balanced than it actually is. Asked to choose their ideal distribution of wealth, 92% picked one that was even more equitable.

    Why Washington is closer to Wall Street than Main Street.

    Rep. Darrell Issa (R-Calif.) Rep. Jane Harman (D-Calif.) Rep. Vern Buchanan (R-Fla.) Sen. John Kerry (D-Mass.) Rep. Jared Polis (D-Colo.) Sen. Mark Warner (D-Va.)

    $451.1 million $435.4 million $366.2 million $294.9 million $285.1 million $283.1 million

    Sen. Herb Kohl (D-Wisc.) Rep. Michael McCaul (R-Texas) Sen. Jay Rockefeller (D-W.Va.) Sen. Dianne Feinstein (D-Calif.)

    $231.2 million $201.5 million $136.2 million $108.1 million

    Congressional data from 2009. Family net worth data from 2007. Sources: Center for Responsive Politics; US Census; Edward Wolff, Bard College.

    For a healthy few, it's getting better all the time.

    How much income have you given up for the top 1 percent?

    Sources
    Income distribution: Emmanuel Saez (Excel) Net worth: Edward Wolff (PDF) Household income/income share: Congressional Budget Office Real vs. desired distribution of wealth: Michael I. Norton and Dan Ariely (PDF) Net worth of Americans vs. Congress: Federal Reserve (average); Center for Responsive Politics(Congress) Your chances of being a millionaire: Calculation based on data from Wolff (PDF); US Census (household and population data)

    Member of Congress' chances: Center for Responsive Politics Wealthiest members of Congress: Center for Responsive Politics Tax cut votes: New York Times (Senate; House) Wall street profits, 2007-2009: New York State Comptroller (PDF) Unemployment rate, 2007-2009: Bureau of Labor Statistics Home equity, 2007-2009: Federal Reserve, Flow of Funds data, 1995-2004 and 2005-2009 (PDFs) CEO vs. worker pay: Economic Policy Institute Historic tax rates: Calculations based on data from The Tax Foundation Federal tax revenue: Joint Committee on Taxation (PDF)

    Read also: Kevin Drum on the decline of Big Labor, the rise of Big Business, and why the Obama era fizzled so soon. More Mother Jones charty goodness: How the rich get richer; how the poor get poorer;who owns Congress? Dave Gilson is a senior editor at Mother Jones. For more of his stories, click here. Get Dave Gilson's RSS feed.

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