Re: Left behind in America: Who's to blame for the wealth divide?

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Article #1713

#1713

From: brad herschel
Date: Wed, 07 Sep 2011 20:53

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On Sep 7, 2:48 pm, chatnoir <wolfbat3...@mindspring.com> wrote:
> http://www.cbsnews.com/8301-503544_162-20102289-503544.html?tag=reddit
>
> headline:
>
> Left behind in America: Who's to blame for the wealth divide?
> By Brian Montopoli
>
> Take a moment and think about how you feel wealth should, ideally, be
> spread among the American people.
>
> If you're like the average respondent in a 2010 Harvard Business
> School/Duke University study, your response was this: The richest top
> 20 percent of society, as determined by net worth, should control 32
> percent of the wealth. The bottom 20 percent should control about ten
> percent. And the rest should be spread out among the 60 percent in the
> middle, with higher-earners taking a slightly larger share.
>
> It probably won't surprise you to hear that those figures don't match
> reality. But you might well be shocked by just how far off they are.
> In the study, Americans were asked how they thought wealth was
> actually distributed; they estimated that the top 20 percent
> controlled about 59 percent of the nation's wealth, while the bottom
> controlled about three percent.
>
> That wasn't even close: In reality, the top 20 percent controlled
> about 84 percent of the wealth, while the bottom quintile controlled
> just 0.1 percent. The combined net worth of the bottom 40 percent, in
> fact, accounted for just 0.3 percent of the nation's wealth. (See
> chart below, where that bottom 40 percent doesn't even show up.) ...
> (cont)

Remove the unproductive Blacks and Hispanics from the equation.
Another story.

http://www.theoccidentalobserver.net/  The Occidental Observer

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From: brad herschel <bradherschel@gmail.com>
Newsgroups: misc.rural,chi.general,seattle.politics,sci.econ,soc.culture.usa
Subject: Re: Left behind in America: Who's to blame for the wealth divide?
Date: Wed, 7 Sep 2011 13:53:53 -0700 (PDT)
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