(Begin Image Here) As the Occupy Wall Street movement continues to grow, with its cries for social and economic justice, probably it behooves us to inquire how unequal we REALLY are.
So here's the "Top 5 Facts You Should Know About The Wealthiest One Percent of Americans." Courtesy of rogue economist Ravi Batra:(End OverImage Here)
1) The Top 1% Owns 40% of the Nation's Wealth:
Nobel Laureate Joe Stiglitz noted recently, 25 years ago the top 1% owned only THIRTY THREE percent of national wealth.
How much of the wealth does the bottom 80%--that'd be you'n'me, hippies--own? Only 7%.
#2) The Top 1% Take Home 24% of National Income:
In 1976 they took home just 9% -- which means that their "share" of the national income pool has almost TRIPLED in 35 years.
#3) The Top 1% Own Half of the Country's Stocks, Bonds and Mutual Funds:
The Institute for Policy Studies has calculated that the bottom 50% of Americans own only one-half percent of these investments. That's POINT FIVE...
#4) The Top 1% of Americans Have Only 5% of the Nation's Personal Debt:
While the bottom 90% hold 73% of total debt.
#5) The Top 1% Are Taking In More off the Nation's Income Than at Any Other Time Since the 1920s: Not only the 1% of Americans taking home an overwhelming portion of the national income, but their share of this income is greater than at any other time since the before Great Depression.
The wealthy make choices: Shall we drive the Porsche or the Benz, tonight?
But the poor make decisions: Shall we buy food or meds, we gotta decide, babe...
I hope you're not down to decisions, hippies...
Back to you in Hippie Central, Win-Stone!