"The total net worth of all Americans in 1989 was $25 trillion (in 2004 dollars). Of that amount, the top 1 percent owned 30 percent, or $7.775 trillion. The bottom half owned 3 percent of the total, or $763 billion.
Fifteen years later, in 2004, the total wealth of all Americans had doubled to $50.25 trillion. The top 1 percent of the population now owns 33.4 percent of the total, or $16.774 trillion. Their percentage share of the total has increased by more than 3 percent in fifteen years. At the same time, the total wealth owned by the bottom 50 percent increased to $1.278 trillion, but its percentage of total wealth declined from 3 percent to 2.5 percent in the same time period."
See Article.
economic (or social) mobility is as much a myth as democracy and freedom, existing only nominally, in relative comparison to poor states, but not in any absolute terms. my opinion. disagree? how much of the wealth protected by laws and wars belongs to you? call me if you wanna bitch about it and then we can buy our discussion from the NSA ipod store.
keep the bottom half ignorant or supplicant. they probably won't riot for another 50 years or so. not to worry anyway. america will be much more of a police state by then.
1 comment:
Reagan was a mother-f-in genius. He got people to believe in that "trickle-down economics" ish and it was all over. now we're in a positive feedback loop that's impossible to break: cut taxes for the rich --> have to cut funding for schools --> non-rich people get dumber --> they continue to do stupid things like vote Republican --> Republicans cut more taxes for the rich.... etc.
Unfortunately Americans are too fat from the Taco Bell dollar menu to mobilize. you know you've never seen some fat revolutionaries.
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