And that's only since the 1920s. Take note that during the Clinton administration and the internet boom, the percentage was very close to 39%.
Records were less accurate prior to 1920, but it's estimated that prior the gap was much, much wider.
CAUTION: Go to the linked site only if you want to see more advertisements at one website than you’ve likely ever seen before. I know, now curiosity will drive you there.
Well, here's the tried and true, used in Russia, China, Cambodia, all over Eastern Europe: "Kill or imprison the producers, confiscate their machinery and lands, subvert their institutions of learning."
It's worked before, hasn't it?
And that's only since the 1920s. Take note that during the Clinton administration and the internet boom, the percentage was very close to 39%.
Records were less accurate prior to 1920, but it's estimated that prior the gap was much, much wider.
and if you are stupid enough to believe that governments are benevolent charities, to be trusted to “redistribute the “wealth”, you deserve the COMMUNIST DICTATORSHIP you have endorsed.
Just remember, if you are receiving $30,000 in income and benefits here in America, you are making more than TWICE as much as the average Chinese.
The same is true for the average person living in Africa, South and Central America,
Where is the socialist propaganda, statistics manipulation alert on this article? This article is pure garbage ,socialist propaganda, statistics manipulation.
That's why so much of the class warfare discussion takes place within the context of relative rates of taxation ~ and only rarely in terms of relative rates of ownership!
Can someone show me where this "design" exists? Surely if the global financial system was designed to be this way there'd be a blueprint for it somewhere right?
There'd also be an implementation plan and operational support for such a system, and as such no way the "design" could ever be kept secret. Surely someone in Operational Support would've leaked the design by now!
The global elite continue to hoard wealth and heap together enormous mountains of treasure in these troubled days even though the economic suffering around the planet continues to grow.
Are the wealthy under some sort of mandate or obligation to share the wealth they've accumulated? It appears according to the author they are. Frankly, that kind of thinking scares me.
Then it's in good hands.
Yet, somehow, most of these 39% support democrats.
This is never AGE ADJUSTED. And I have yet to see real economists point this out.
Who has more wealth? A 50 year old or a 20 year old? The answer is obvious. People acquire wealth all the way until they retire, when they start using it up. Yet such bogus statistics ALWAYS include all people in the same pool.
The relevant statistic is, "What % of all wealth owned by 50-year-olds in the world is 'controlled' by the top 1%?" I bet the number is closer to 10.
Too bad the wealthy didn’t own more and were valued rather than reviled.
Pray for America to Wake Up
Will the rest of us work as serfs in a system that they have iron-fisted control over? <<<<
I seemed to remember one particular bloody period in history when the elite owns pretty much everything and the rest as serfs.
Yeah, I am talking about the French Revolution, that worked out pretty well for the peasants to prosper in equality, no? ////
Other periods in human history also showed similar pattern to equally redistribute ‘wealth’, so why don't we have ‘it’ (anarchy) more often, then?
And most of that top 1% is probably liberals like Gates or a bunch of oil rich muzzies.
The fact that they can't make good decisions shouldn't be my problem.
Sounds like an Obama tax speech.
it's a false dichotomy... it is not a zero sum game, they print more money each and every single day, and it's up to YOU as to how much or how little of it you get and how you spend it the fact that somebody has 1000 times more money than i do has no bearing on how much i make or my life style.
A disparity between the wealthy and the poor has two causes.
One is the “Old Europe disease”, in which the wealthy and powerful go to great lengths to not just enrich themselves, but to keep everyone else poor. Carlos Slim in Mexico, for example, has likely never enriched anyone outside of his family and peers.
Bill Gates, however, not afflicted with this disease, has created several multi-billionaires, a bunch of billionaires, hundreds of multimillionaires, and thousands of millionaires. No skin off his nose.
The other cause of wealth disparity is government.
*Not* because government hasn’t redistributed the wealth of the wealthy, but because government hasn’t used taxation properly, to give a profit motivation for the wealthy to invest in research and development and new businesses; while having punitive taxes on investments that are more like gambling; and both these policies stabilizing the economy so much that the wealthy *want* to invest, rather than hoard.
Government should not care if the wealthy get wealthier, as long as the rest of society increases its wealth at the same time. Since government cannot increase the wealth of society directly, they need to encourage the wealthy to do so.
There seems to be some dreamy goal of equalizing income as a good thing. I note that skiing on flat ground is not much fun. An economy without rich people goes nowhere.
Articles like this make it sound like wealth is a finite thing or number, and of course, the super-rich have the lion’s share. The fact is most average people are a lot wealthier than they were 40-50 years ago. I grew up with seven siblings in a lower-middle class family. We would have been considered poor today. Now I have two or three siblings with total wealth over one million. And my wife and I are doing quite well, thank you. However, if the trend towards quasi-commies like Obama continues, total wealth will decline. Socialism will eventually kill all healthy economies.