Monday, April 19, 2010

Extreme Inequality

I stole the title from the link titled Plutocracy Reborn, only because it perfectly defines the current state of wealth separation in the United States of America.

As of 2006, the top 0.01% of the American population was making 976 times more than the bottom 90% of American families. If you take into consideration that in 2004, the US census bureau reported the median household average was $45,016, and as this is only the bottom 90% that is being compared to the top 0.01%, leaving 10% out of the loop, we'll guesstimate that the household average would then be approximately $37,000. Thus meaning that the top 0.01% are earning on average ($37,000 x 976) 36,112,000 or THIRTY SIX MILLION, ONE HUNDRED and TWENTY TWENTY THOUSAND DOLLARS, compared to the average household of $45,016. Quite the range between the two, and there are obviously people making more than 36 million a year, some are making billions per year. That's 36 million annually, on average, between a little over thirty thousand people, out of a country made up of 300 plus million hardworking families and individuals who bring in approximately 45 thousand a year, per household. And they call this a fair free land of opportunity- Where is this equal opportunity?

Plutocracy Reborn