Truth Out
Each Year Since the Recession, America's Richest 1% Have Made More Than the Cost of All U.S. Social Programs In effect, a reverse transfer from the poor to the rich. Even as conservatives blame Social Security for being too costly.
Almost None of the New 1% Wealth Led To Innovation and Jobs . In
2005, for every $1 of financial wealth there was 66 cents of
non-financial (home) wealth. Ten years later, for every $1 of financial
wealth there was just 43 cents of non-financial (home) wealth.
Just 47 Wealthy Americans Own More Than Half of the U.S. Population Oxfam
reported that just 85 people own as much as half the world. Here in the
U.S., with nearly a third of the world's wealth, just 47 individuals
own more than all 160 million people (about 60 million households) below
the median wealth level of about $53,000.
The
Upper Middle Class of America Owns a Smaller Percentage of Wealth Than
the Corresponding Groups in All Major Nations Except Russia and
Indonesia. The upper middle class in the U.S., defined as everyone in the top half below the richest 20%, owns 11.9 percent
of the wealth. Indonesia at 10.5 percent and Russia at 7.5 percent are
worse off, but in all other nations the corresponding upper middle
classes own 12 to 27 percent of the wealth.
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