The system of inequality in the US of A is perpetuated by the belief that if you work hard enough -and are smart enough - you might become one of the
Top 1% or Top 5%.
George Carlin aptly said "The American Dream" is just that - a "Dream" because you have to be asleep to believe it. Meanwhile - we all need to wake up
Here are the facts:
• 83 percent of all U.S. Stocks are in the hands of 1 percent of the people.
• 61 percent of Americans "always or usually" live paycheck to paycheck which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don't contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. Households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. History banks own a greater share of residential housing net worth in the United States than all individual Americans
• In 1950 the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000 that ratio has
exploded to between 300 to 500 to 1
• As of 2007 the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• While millions of Americans are unemployed and the national debt is soaring it seems top financial executives are far from feeling the pinch. A
recent Wall Street Journal survey estimates they'll receive a staggering $144 billion dollars in compensation and benefits this year. This equals to
the entire 2008 stimulus package!
• The top 1 percent of U.S. Households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
• More than 40 percent of Americans who actually are employed are now working in service jobs which are often very low paying.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years
• Despite the financial crisis the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009!
• The top 10 percent of Americans now earn around 50 percent of our national income.
Dream on! Never mind if most are living a horrible nightmare!
edit on 30-12-2010 by OrionHunterX because: (no reason given)