income distribution in America
This essay will offer evidence supporting this claim from an introspective look at the future of America.
“During 2009, the leadership has taken actions which benefit the corporations and special interests who own them, while showing nothing but wanton disregard for the millions of citizens whose lives their sponsors have destroyed. What we are headed towards in the US if we are not there already, is a Straussian society of ultra rich, ultra powerful oligarchs and a serfish powerless population with no middle class to speak of.”
I would like to start with this chart from mybudget360.com
The key takeaway from this chart is that 0.1 percent of Americans are making more than twice what the other 99.9 percent of Americans are making, combined.
0.1 percent of Americans, assuming a population of 300 million equals 300,000 individuals, controlling more than twice as much wealth and power as everyone else put together.
An oligarchy (Greek Ὀλιγαρχία, Oligarkhía) (oligocracy) is a form of government in which power effectively rests with a small elite segment of society.
Ideally, in a healthy democracy, income distribution would have a bell curve shape with the vast majority earning a wage that can support a middle class lifestyle…as was the case in America for many decades This would be indicative of a healthy thriving middle class.
I would also like to point out that an oligarchical income distribution is typical of a communist or (other form of totalitarian regime) where you have the serfs (99.9 percent of the population) and the elite (0.1 percent of the population).
If you were to research who this 0.1 percent of people are, you would find that they are the same ones telling you through their media outlets how things are, how to think, what to believe and why you should continue to trust them.
Needless to say, when such a small minority are in control, there is no hope of democracy, or a constitutional republic or anything else you would like to believe this is.
Edit: Add Footnotes
Middle Class Becoming the New Poor as Job Losses Mount
By Mac Slavo
February 23rd, 2010
The American dream is becoming a nightmare for millions across the country as job losses continue to mount, unemployment runs out and new job creation is simply not happening. Millions are facing unemployment for years to come:
Income inequality in the United States
From Wikipedia, the free encyclopedia
Tour of the US Income Distribution, “The L-Curve”
Wealth, Income, and Power
The Distribution of Wealth in America
The Middle Class Two Income Trap – Two Breadwinners plus Extra Money to support the Banking Industry. How Middle Class Americans are losing Ground by Supporting the Financial Sector.
43% have less than $10k for retirement
By Chavon Sutton
March 9, 2010
NEW YORK (CNNMoney.com) — The percentage of American workers with virtually no retirement savings grew for the third straight year, according to a survey released Tuesday.
15 Years Ago, the Combined Assets of the 6 Biggest Banks Totaled 17% of GDP… By 2006, 55% … Now, 63%
Monday, March 1, 2010
Food for Thought: A Graphical Peek at Income Inequality in the United States