🚀 go-pugleaf

In article <22lc6d$cq7@agate.berkeley.edu>, newman@garnet.berkeley.edu (Nathan Newman) writes:
> In article <16608@optilink.COM> cramer@optilink.COM (Clayton Cramer) writes:
> >In article <22ffib$p5h@agate.berkeley.edu>, newman@garnet.berkeley.edu (Nathan Newman) writes:
# ## No. Like most supporters of democracy, I recognize that the market is
# ## inherently undemocratic, since it gives power based not on "one man, one
# ## vote" but based on "one dollar, one vote."
# #
# #This is a big difference in a society where wealth is heavily
# #concentrated in a small number of hands; in the United States, it's
# #not much of a difference at all.  Note: wealth is not just disposable
# #income, nor is it just stock.  Consider the wealth of homes and land,
# #which is widely distributed.
# 
# Including homes, land and financial assets, the Federal Reserve has found
# the following distribution of wealth:
# 
# The 9% of the population with assets of $250,000 or more own one-half of
# all weatlh.  The top 1/2 of 1 percent owns 28.8% of all wealth all by itself.

I'm sort of curious -- does that "9% of the population" include only
the people that hold legal title to it?  What I am driving at is that
my wife and I are in that top 9% (or very close to it).  My children 
don't own those assets, but they certainly get the benefit of them.  
If every couple as well off as my wife and I have two children, 
suddenly it's not 9% of the population who benefit from that wealth, 
but 18% of the population.

By the way, I started out below the poverty line in 1974 when I graduated
high school, and I am just about to complete my bachelor's degree.  

#          *    Nathan Newman:  newman@garnet.berkeley.edu  *
-- 
Clayton E. Cramer {uunet,pyramid}!optilink!cramer  My opinions, all mine!
The California Bar Association wants lawyers added to the list of groups
given special protection by "hate crime" laws.  Did I miss something?  Since
when have $75/hour lawyers become oppressed minorities?