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The video is being deceptive... the 20% INCLUDES the middle class... the rest are basically at or near minimum wage, why would they have "wealth"... liberals are stupid...
The top 1% earns less than 19% of the income, not the 24% depicted in the video. They also own a smaller percentage of the wealth than stated. Someone's propaganda machine is working overtime.
If the video is wrong, please post links to explain. I'm guessing few of us have interviewed all 300,000,000+ Americans, so we all have to accept statistics provided by the federal government, as they are the only organization capable of pulling in that data.
I'm not sure what year the video's author is using for their data, but I'm not finding the stats you are posting as telling a significantly different story. Our wealth distribution is messed up and will ultimately lead us to a violent uprising similar to the French Revolution.
From your "wealth" link: The Wealth Distribution
In the United States, wealth is highly concentrated in a relatively few hands. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers).
In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.1%.
I applaud that you went to taxfoundation.org, btw. I am fully on board with dealing with facts.
Here's one from that site that a lot of people don't seem to be aware of, which is how reliant some of the most vocal "small government" states are on the federal dole:
I'm not sure what year the video's author is using for their data, but I'm not finding the stats you are posting as telling a significantly different story. Our wealth distribution is messed up and will ultimately lead us to a violent uprising similar to the French Revolution.
From your "wealth" link: The Wealth Distribution
In the United States, wealth is highly concentrated in a relatively few hands. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers).
In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.1%.
one thing that we have to understand is that wealth generation is matter of choices. the people that gain their wealth did so by making the choices and taking the chances that made them wealthy.
I think it is irrelevant how someone gets so filthy rich as to be part of those 5 or 1%. The bottom line is, NOBODY deserves it no matter what...
Sooner or later mankind will have to develop an advanced mentality based on not wanting to become rich, but on wanting to do something meaningful in their lives, meaningful to themselves as well as to society as a whole.
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