Forum Post: 1% own 250 Trillion While The 99% Are Broke
Posted 12 years ago on Nov. 22, 2011, 8:35 p.m. EST by eyeofthetiger
(304)
This content is user submitted and not an official statement
did I Stutter?????????????
That's not true. Not even close. Don't screw up our cause by posting such falsehoods. The rich are plenty rich. But not THAT rich.
The top percentile (1%) is flat out rich. Their household income on average is well over $1,000,000 per year. The entry level for that percentile is around $350,000 per year. The top quintile (20%) in America is doing well. The next quintile is doing alright. But the lower four quintiles (80%) combined own less than 7% of all financial wealth in America.
This is well documented. Please update this page before you give our cause a bad name for posting falsehoods.
A few more details: The ugly truth. America's wealth is STILL being concentrated. When the rich get too rich, the poor get poorer. These latest figures prove it. AGAIN.
According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans (actually, it's more like 98.5%) saw their earnings fall by $4.5 billion collectively. The sobering numbers were a far cry from what was going on for the richest one percent of Americans.
The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion. In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009. Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.
5.2 Million Jobs they did'nt want to pay for so as they could get richer they are nothing but heartless thieves with a legal license to steal I know I don't deal with these types of individuals The one's who slam me with their fast talk and propaganda crap I diss right away The one's who act arrogant and shifty I tell them they are incorrect and the one's who take the time to engage me in a conversation are those I deal with Just watch out who your dealing with cause you have to know the warning signs before you get involved with anyone now Peace
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