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Why America is on the Brink of Class Warfare
(And why we should be if we aren't.)
72% (nearly three quarters) of all American wealth is controlled by the richest 10%. (This is the highest it has ever been since statistics started being kept. This actually includes the "Robber Baron" years of the "ultra rich" before Congress started regulating business.)
The bottom ninety percent control only 28% of the wealth.
The average annual income of the top 1% in the country is $1,137,684.
The average annual income of the top 10% is $164,647.
The average annual income of the bottom 90% is $31,294.
Your chance of being a millionaire - 1 in 22.
Your chance of being a millionaire if you are in Congress - 1 in 2.
The ten richest members of Congress control over 2 billion dollars between them.
In the last two years Wall Street profits gained over 700%. The unemployment rate went up over 100%. American's home equity went down over 35%.
The average CEO salary is 185 times that of the average worker.
Due to tax cuts, the tax rate of the average millionaire is now the lowest it's been since 1930.
Sources include: University of California, Berkley; Harvard Business School; Duke University; US Census; Center for Responsive Politics; Bard College; New York State Comptroller; Federal Reserve, Bureau of Labor Statistics; The Tax Foundation; The Economic Policy Institute and (amazingly) The Senate Joint Committee on Taxation.
I copied the bulk of this from an article in Mother Jones Magazine.
Other research was done independently on the internet and can be verified from the listed sources.