Week 2 Addendum (Income Disparity) (1)

Week 2 Addendum (Income Disparity) (1) - Til HOME TRENDING...

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Unformatted text preview: Til HOME TRENDING: tales flickPerrv Wallstreet Miltltmnney Regulation — 0‘ thug I]ere 47K MP! W! BE GREEN HEALTH JUSTICE ALYSSA . LGBT JOE ROMM r. [r ._ ,yr'.‘ ({ . 4,5?! +51}; _-.“ _ "fir SECURITY YGLESIAS How Unequal We Are: The Top 5 Facts You Should Khow About The Wealthlest One Percent Of Americahs By Zaid Jilani on Oct 3, 2011 at 11:25 am 1. The Top 1 Percent Df Americans owns All] Smite: Percent Of The Nation’s Wealth: As Nobel hflpffr’WEflFEl-‘hEE’E'PEWEM-tumblfimmf Laureate Joseph Stiglitz points out. the richest 1 percent of Americans now own 4D percent of the nation's wealth. Sociologist William Domhofi illustrates this wealth disparity using EDD? figures where the top 1 percent owned 42 percent of the country’s financial wealth {total net worth minus the value of one's home]. HDW much does the bottom 30 percent own? Only 3’ percent: Bottom Bl] percent: This of fin. wealth Top 1 percent: 42% of fin. wealth Financial wealth distribution. eon? As Stiglitz notes, this disparity is much WGFSE than it was in the past, asjust 25 years ago the top 1 percent owned 33 percent of national wealth. 2. The Top 1 Percent Of Americans Take Home 24 Percent Df National lnoome: 1u'I.I’hi|e the richest 1 percent of Americans take home almost a quarter of national income todayr in 19% they took home [ust 9 percent — meaning their share of the national income pool has nearly tripled in roughly three decades. 3. The Top 1 Percent Of Americans Own Half Of The Country's Stocks, Bonds, And Mutual Funds: The Institute for Policy Studies illustrates this massive disparity in financial investment ownership; noting that the bottom 50 percent of Americans own only .5 percent of these investments: Distribution of U3. Stool-1. Bond and Mutual Fund Ownership, 20 1}? Bottom SHE can. ‘- ED-Bfl' Percentile 93% Ell-99 Peron-mil E. 39.4% 4. The Top 1 Percent Of Americans Have I]an 5 Percent Of The Nation’s Personal Debt: Using 20-0? figures, sociologist William Domhoff points out that the top 1 percent have 5 percent ofthe nation's personal debt while the bottom 9U percent have 13 percent of total debt: u: or p}. lTop 1 percent ... £- 2 I] '3. N “3' M '1‘ lNext 9 percent M “5‘ lE-ottorn 9|] percent 4. ‘3' w w w W ._I:I a "'1'" u “5' 4. '5' 4. ".‘ 4-. H" Deposits Pension LiFe Principal Deb-t accounts insurance residence 5. The Top 1 Percent Are Taking In More Of The Nation’s Income Than At Ami Other Time Since The 192th: Not onltir are the wealthiest 1 percent of Americans taking home a tremendous portion of the national income, but their share of this income is greater than at antir other time since the Great Depression, as the Center for Budget and Policy Prioritt'es illustrates in this chart using 200? data: FIGURE 1 Share of Nation’s Income Gains Going to Top 1 Percent at Highest Level Since 19205 Short of intone grailth captured firm I Bottom 90 percent Too '5 percent 50 Si] 4-D 30 1961] 19% 19B! 1992 Hm [I] II} It} EU I1] 1959 I??? 1939 1WD 2W? Source: CBPP calculations hosed on dé'lT‘Fl from Pikettjt' and 5:192 ...
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