Who are the 1%?, page 1

What's 1% of 330 Million?
3 million 3 hundred thousand.

But that doesn't represent the total productive people in the country as not all 330 million people in this country work. As a matter of fact it's only about 53% of 330 million who work in some capacity or another. So what is that number? 174 million 900 thousand.

What's one percent of that(mind you, we're talking about wage earners. This includes small business owners and the richest among us as well). 1 million 700 thousand or so.

Now, the top ten percent is anyone who earns more than 100,000 dollars. So what do you have to earn in order to be in the one percent? Well, you have to START at 310,000 dollars.

That is a small business. That's not enough to get an independent coffee shop started in Reno, NV. Don't like my numbers? How about fact check.org

FactCheck.Org

The top 1 percent in 2005 were those households with income of at least $307,500, and they got 18.1 percent of all "comprehensive" income, which includes all cash income plus the cash value of such benefits as Medicare and food stamps.

Now that was 6 years ago. With inflation rates of 2 and 3% per year you're still only looking at about 320,000 dollars per year. That is STILL not enough to open a small coffeeshop store front in Reno, NV.

So who are the 1%? People who have retirement accounts of more than 300 thousand dollars. People who own small businesses who do most of the hiring in this country.

Yeah. Screw the one percent. Those people are evil.

reply to post by projectvxn

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The top 25 richest people have enough wealth to create 1 million new millionairres and still be rich themselves.

Really, it isn't the top 1% we should be concerned with, and it isn't people. It is the top 10 Global Corporate Conglemerates and the top 25 wealthiest people controlling the actions and shares in those corporations.

We are talking more like the top 0.001% that are actually evil hoarders and exploiters.

Originally posted by getreadyalready
reply to post by projectvxn

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The top 25 richest people have enough wealth to create 1 million new millionairres and still be rich themselves.

Really, it isn't the top 1% we should be concerned with, and it isn't people. It is the top 10 Global Corporate Conglemerates and the top 25 wealthiest people controlling the actions and shares in those corporations.

We are talking more like the top 0.001% that are actually evil hoarders and exploiters.

Yes, what he said!
We are the 99% sounds catchier too. =P

reply to post by projectvxn

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No, this post uses fuzzy math and obviously doesn't understand what "comprehensive" income means.

The OWS movement is not against people who make $350k or more in general, but rather those that implement and practice shady business and lending practices and has summarily taken a huge dump on the economy and the rest of us.

Most of the 1% referenced will not show up on your list because they are corporate entities that report LOSSES in the USA because they're income is all coming to child-companies housed in tax havens.

This is a pathetic post and the (oh I'm gonna do it) SHEEPLE (thanks neo96, for letting me borrow your favorite phrase) are gonna swallow this up without thinking about it one bit.

reply to post by getreadyalready

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In order to be in the top .001 you have to make roughly 5million 500 thousand dollars....Doesn't sound like power and glory to me.

We're talking about a percentage of people so small, and yet OWS wants us to be more socialistic so that they can sit on their butts and reap the benefits of those who are productive.

They want us to punish the small business.

They have no idea, and these numbers prove it, what is it and who it is they think is the enemy.

reply to post by Gradius Maximus

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Apparently you didn't bother reading the breakdown. I broke it down all the way to who is actually WORKING in this country and earning money.

The top 1% of wage earners STARTS at 320,000 dollars.

learn2math

reply to post by TinkerHaus

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Oh?

Here I was thinking they are mad at the top 1% of wage earners who don't pay their fair share.

Looks to me like small businesses in this country are more than paying their fair share. And they are, IN FACT, in the 1%.

All it takes is a calculator and knowing how to add and subtract as well as using numbers produced by the BLS. And viola! You have your numbers.

Numbers that accurately reflect reality. And organizations like fact check.org back me up.

reply to post by projectvxn

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I agree. In a world of 7 billion people, there isn't a percentage that are bad, there are just a couple of dozen people. Literally less than 100 people control the vast majority of the world's wealth. I'm at work, and I can't find my previous post, but the top 25 people control $14.3 Trillion dollars of wealth. When you expand it to the top 100 people the number is even more ridiculous.

What percentage is 100 out of 7 billion? Or if we are just talking about the US, what is 10 out of 330 million?

That is why the distribution of wealth is so skewed.

The problem with the OWS folks, is they want more regulation, when what we need is less regulation! We need to stop making more and more restrictions on the little guys and giving the big guys a free pass. If we had a truly free market and stopped favoring the large corps, then the wealth would automatically redistribute on its own.

reply to post by TinkerHaus

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the "sheeple" is ows and their defenders never been one to bow to peer pressure and sure never like to be told what to do what do i know of wall street?

the us federal goverment writes and enforces their rules and regulations and their puppet the federal reserve determines what their wealth is.

drop the personalizations keep doing it find out what glory awaits.

Originally posted by projectvxn
reply to post by getreadyalready

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In order to be in the top .001 you have to make roughly 5million 500 thousand dollars....Doesn't sound like power and glory to me.

We're talking about a percentage of people so small, and yet OWS wants us to be more socialistic so that they can sit on their butts and reap the benefits of those who are productive.

They want us to punish the small business.

They have no idea, and these numbers prove it, what is it and who it is they think is the enemy.

You are so right, nothing wrong with the system....nothing to see here, move along now.

Originally posted by neo96
reply to post by TinkerHaus

---

the "sheeple" is ows and their defenders never been one to bow to peer pressure and sure never like to be told what to do what do i know of wall street?

the us federal goverment writes and enforces their rules and regulations and their puppet the federal reserve determines what their wealth is.

drop the personalizations keep doing it find out what glory awaits.

Do you actually think in coherent sentences before your fingers start typing, or is that maybe too much to ask? Sorry, but that was just a mess of words with no real point.

reply to post by pointr97

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Yeah...That's what I'm saying.

The problem with the "System" is the government.

You don't even know what the government did to get things as bad as they are.

Here's a few terms for you to wikipedia on your spare time as you lambaste productive people:

Glass-Steagall Repealed
20% Loan to Value
Reserve Ratios and Leverage requirements
Separation of investment and Commercial banking(to include loans, depositor services etc.)
Federal Reserve System

When you find out how all of these issues come together you will understand how the banking system was allowed to be so irresponsible and why they have been and still are allowed to get away with murder. It has NOTHING to do with how much money you make. Only how MUCH ATTENTION you pay.

The OWS people would have you believe it's about how much money a rich person has...Oh how misguided this country has become.

Originally posted by getreadyalready
reply to post by projectvxn

---

I agree. In a world of 7 billion people, there isn't a percentage that are bad, there are just a couple of dozen people. Literally less than 100 people control the vast majority of the world's wealth. I'm at work, and I can't find my previous post, but the top 25 people control $14.3 Trillion dollars of wealth. When you expand it to the top 100 people the number is even more ridiculous.

What percentage is 100 out of 7 billion? Or if we are just talking about the US, what is 10 out of 330 million?

That is why the distribution of wealth is so skewed.

The problem with the OWS folks, is they want more regulation, when what we need is less regulation! We need to stop making more and more restrictions on the little guys and giving the big guys a free pass. If we had a truly free market and stopped favoring the large corps, then the wealth would automatically redistribute on its own.

Great point, but the other side will say, well they control the company, can't blame them for making a profit....Yes we can, we can blame them for making record profits in the billions and paying their employees who actually do the work right above minimum wage. Use the football analogy, they NFL gets in trouble all the time, because the owners make such a huge profit margin off the players......well, then the players say, hey what about me...I am the star you are making money off of......So companies need to do the same, they wouldn't make a dollar without that front line force, whatever the capacity, and pay them what they are worth. If they helped to make that company 1 billion in profits....they need to see more than 10 dollars an hour. That basic employee is worth more to the company than the ceo....basic cost benefit analysis, the ceo may make a few big decisions, but really the day to day operations are based on the abilities of the front line individuals. Yes a company can make all the money it wants, but it needs to reward the base employees just like it rewards the high end. The 1% vs 99% fight is not about income or status......It is about the 1% that control the world and the 99% that actually do everything. Why is it right that the CEO of a major business makes an additional 10 mil a year in bonus when his basic employees are struggling to pay the rent....Think maybe we could up their pay just a bit and he only see 8 mil in bonus?.......naw, that would be wrong it is his money and he earned it....right?

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