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Class Wealth

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Wealth Inequality

Some of these charts/graphs already have explanations with them, so please read the original authors thoughts. I have arranged these images so I could make a point.

Inequality among wage earners has become a big topic this election year. And I think the Occupy Movement deserves a big pat-on-the-back for bringing it to everyone's attention. The first graph has three bars, the middle bar illustrates what most people think the wealth distribution is in America is, with the third bar representing what most Americans wish the wealth distribution could be. Notice that most people don't want to get rid of the super-rich, they just want the wealth distribution to be more fair. Needles to say the first bar represents the actual wealth distribution. Notice the bottom 20% - 40% barely register on the graph at all.

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So when the Occupy Wall Street people talk about the 1%ers vs the 99%ers, I really think they are talking about the .01%ers vs the rest of us. It is the gambling on Wall Street, hedge funds and derivatives that caused the the financial system to crash and caused the largest "transfer-of-wealth" in modern history. Greed and stupidity are keeping the charade going. Greed on the part of Wall Street (Washington) and stupidity on the part of the rest of us.

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How can a democracy allow such an inequality to happen between the people working on the assembly line creating the widgets, and the CEO's that are suppose to be looking out for the welfare of their company and employees.

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Here is how the average income for the 1%ers vs the 99%ers looked like over the past several decades.

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But, Bush gave us all a tax cut... that should have helped even out the income inequality... right?

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Here is a table showing what percentage a New York City janitor payed in taxes vs a typical New York City millionaire. And then there is the super rich... now what did Mitt Romney pay in taxes?

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Then there are corporations who don't pay their fair share in taxes.

Warren Buffett: High Corporate Taxes Are An American 'Myth'
Huffington Post | Bonnie Kavoussi | 02/27/12

Corporations, like the rich, aren't paying their fair share in taxes, billionaire investor Warren Buffett told CNBC on Monday.

Even while enjoying record profits, corporations last year paid just 12.1 percentof those earnings in taxes, their lowest tax rate since 1972, according to the Congressional Budget Office. At least thirty of the country's most profitable companies had a negative tax rate between 2008 and 2010.

Buffett, for one, says it's time to take notice. "It's a myth that American corporations are paying 35 percent or anything like it," Buffett said, referring to the top marginal corporate tax rate. "Corporate taxes are not strangling American competitiveness." Read more


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This last graph you can probably ignore. I just left it in the list to show how American's wealth inequality compared to a northern European country. Notice how equally divided all the Swedish wealth classes are compared to the United States. Why are we not mad at this?

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03.01.2012. 22:41

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I am one of those "once" middle class, over 60, over educated, under-employed, semi retired, soon to be poor workers, that everyone is talking about. 
But I have a modest standard of living so I plan to give all extra donation, beyond my immediate needs, to several of my favorite charities.

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