5 True Facts You Should Know About the Wealthiest 1 Percent of Americans
5 True Facts You Should Know
About the Wealthiest
1 Percent of Americans
By Nathan Batalion, Global Health Activist, Healingtalks Editor
(Healingtalks) As Occupy Wall Street enters its third week, demonstrators have endorsed a new slogan: “We are the 99 percent.” This slogan refers to a struggle between 99 percent of Americans and the richest 1 percent who are increasingly gathering (stealing) an ever greater share of the national wealth.
Top 1 Percent of Americans Owns 40 Percent of the Nation’s Wealth
As Nobel Laureate Joseph Stiglitz points out, the richest 1 percent now own 40 percent of the nation’s wealth. Sociologist William Domhoff illustrates this wealth disparity using 2007 figures where the top 1 percent owned 42 percent of the country’s financial wealth (total net worth minus the value of one’s home). How much does the bottom 80 percent own? 7 percent. This disparity is much worse than in the past. 25 years ago the top 1 percent owned 33 percent of national wealth.
Top 1 Percent of Americans Take Home 24 Percent of National Income
While the richest 1 percent of Americans take home almost a quarter of national income today, in 1976 they took home just 9 percent. Their share has about tripled in three decades.
Top 1 Percent Of Americans Own Half of the Country’s Stocks, Bonds and Mutual Funds
The Institute for Policy Studies shows financial investment ownership/ The bottom 50 percent of Americans own only .5 percent of these investments.
Top 1 Percent Of Americans Have Only 5 Percent of the Nation’s Personal Debt
Using 2007 figures, the top 1 percent has 5 percent of the nation’s personal debt while the bottom 90 percent had 73 percent.
Top 1 Percent are Taking In More of the Nation’s Income Than at Any Other Time Since the 1920s
The wealthiest 1 percent of Americans’ share of income is greater than at any other time since the Great Depression:
Based on an article by Zaid Jilani, Think Progress
Keywords: wealthiest 1 per cent, top richest, top one per cent wealth, richest one percent of Americans