Friday, August 27, 2010

Who Rules America?

Excellent article and graphs about the concentration of wealth and opportunity in America among an ever narrowing segment of the population by Phil of Phil's Stock World
http://philsbackupsite.wordpress.com/2010/08/26/who-rules-america/

here is an interesting excerpt from this excellent article:

"Go ahead, do the math – adding up the total wages of the bottom 90% against the total wages of the top 10% give you a real idea of what a “fair and just” system we’re participating in:

14,836 people earn $17,271,381 in average annual income ($256Bn),

133,525 earn $2,569,388 ($343Bn),

593,444 earn $760,680 ($451Bn),

741,805 earn $393,583($292Bn),

5,934,440 earn $188,513($1,119Bn) and

7,418,050 earn $117,688($873Bn)

while the the wages of the bottom 90% are
133,524,900 people earning an average of just $30,173 ($4,029Bn).

So interesting fact number one is that the 13M people in the top 10% earn (not including capital gains, which make up the bulk of their true income) salaries of $3.3Tn while the other 133M schlubs earn $4Tn...."

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