4 Shocking Examples of American Inequality

http://www.alternet.org/economy/4-shocking-examples-american-inequality



1. The 30 Richest Americans Own as much as Half of the U.S. Population

The Oxfam report tells us that 85 individuals own as much as half the world. The U.S. is the biggest reason for that, with 5% of the world's population and 30% of the wealth. China, India, and Africa, on the other hand, combine for about half the world's population and just 12% of the wealth.

***SNIP

2. The Bottom Half of America Owns a Smaller Percentage of National Wealth than Almost All Other Countries and Continents

The 1.1% of America's wealth owned by the poorest half is less than the poorest halves of Asia (1.3% of the region's wealth), Africa (2.1%), Latin America (3.2%), India (4.5%), the United Kingdom (7.6%), and China (9.6%).

***SNIP

3. Less Mobility: North America's Bottom Half Has Less Chance to MOVE UP than Any Other Region of the World

Conservatives argue that individuals should be able to improve their economic positions with personal initiative and hard work. But economic mobility is lower in the U.S. than in most developed countries. And lower than in many undeveloped countries.

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4. America's MIDDLE CLASS is Further from the Top than in All Other Developed Countries

As noted above, it's not just the bottom half being battered by inequality -- it's most of the rest of us. The U.S. median of $44,911 is only 15% of the $301,140 mean (which is greatly skewed by the wealth of the richest 10%). That ratio is less than any other of the 27 developed countries listed by Credit Suisse, and much less than the average OECD ratio of 35%.