babble home
rabble.ca - news for the rest of us
today's active topics


Post New Topic  Post A Reply
FAQ | Forum Home
  next oldest topic   next newest topic
» babble   » walking the talk   » labour and consumption   » Aspects of class in the U.S.

Email this thread to someone!    
Author Topic: Aspects of class in the U.S.
N.Beltov
rabble-rouser
Babbler # 4140

posted 02 July 2006 12:20 PM      Profile for N.Beltov   Author's Homepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
Monthly Review does it again!
From: Vancouver Island | Registered: May 2003  |  IP: Logged
M. Spector
rabble-rouser
Babbler # 8273

posted 02 July 2006 06:30 PM      Profile for M. Spector   Author's Homepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
From the article:

quote:
The fact that the rich are getting both relatively and absolutely richer, and the poor are getting relatively (if not absolutely) poorer, in the United States today is abundantly clear to all although the true extent of this trend defies the imagination. Over the years 1950 to 1970, for each additional dollar made by those in the bottom 90 percent of income earners, those in the top 0.01 percent received an additional $162. In contrast, from 1990 to 2002, for every added dollar made by those in the bottom 90 percent, those in the uppermost 0.01 percent (today around 14,000 households) made an additional $18,000.

Wealth is always far more unevenly divided than income. In 2001 the top 1 percent of wealth holders accounted for 33 percent of all net worth in the United States, twice the total net worth of the bottom 80 percent of the population. Measured in terms of financial wealth (which excludes equity in owner-occupied houses), the top 1 percent in 2001 owned more than four times as much as the bottom 80 percent of the population. Between 1983 and 2001, this same top 1 percent grabbed 28 percent of the rise in national income, 33 percent of the total gain in net worth, and 52 percent of the overall growth in financial worth.

From: One millihelen: The amount of beauty required to launch one ship. | Registered: Feb 2005  |  IP: Logged

All times are Pacific Time  

Post New Topic  Post A Reply Close Topic    Move Topic    Delete Topic next oldest topic   next newest topic
Hop To:

Contact Us | rabble.ca | Policy Statement

Copyright 2001-2008 rabble.ca