Viral Video Shows the Extent of U.S. Wealth Inequality
I encourage all my followers to watch and reblog this, this post should be going viral. If more Americans knew about this, they would realize it is time for significant change. And I’m not talking about change in leadership, I’m speaking of revolution.
And in case you needed more visual reminders of the income inequality in America, here is a pie graph showing the net worth of Americans in 2007:
In 2007 the richest 1% of the American population owned 34.6% of the country’s total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country’s wealth and the bottom 80% of the population owned 15%.
Mind you that this is before the recession. Let’s take a look at the graph during the recession in 2010, the latest data we have:
In 2010, during the recession, the 1%, as well as the top 20%, actually gained wealth while the bottom 80% loss theirs. The left side shows net worth and the right side shows actual wealth. In 2010, the bottom 80% of America held 5% of all the wealth in the richest nation in the world.
In case you’re wondering where you fall in the graph, I’ll break it down for you: If your household income is $17,300 or below, you are in the bottom 40%, $41,700 or below is the bottom 60%, $72,000 or below is the bottom 80%. Anywhere between $72,000 and $226,200 is the top 20% and over $1,318,200 is the top 1%.
In case you’re doubting the data, this was taken from the Sociology department in the University of California at Santa Cruz.
And here is the icing on the cake:
Half of America (150 Million) Is Officially Poor According To Census Data
More Than 50 Million Americans Are Short on Food
17 Million Americans Suffer From “Very Low Food Security”
Youth Unemployment Rises To 23%, 39% For Blacks
1 of 4 US Children Live In Poverty, Second Highest In ‘Developed World’
Minimum Wage Would Be $21.72 If It Kept Pace With Increases In Productivity