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Egalitarian Thug

(12,448 posts)

6. The top 1% owns 40% of the total wealth in the U.S.

Reply to cthulu2016 (Original post)

Tue Jun 12, 2012, 03:16 AM

Jun 2012

Notice that, on the rare occasion that the 1% is mentioned in the M$M at all, it is limited to the top 1% of income, This is a diversion. Being in the top 1% of income earners has nothing to do with being in the 1%. Most of the 1% earns no salary at all.

As my grandmother often told me, "if you're really rich, you can afford to stay off the list".

The rich have only one fear, that the rest of us will find out how much they really have.

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23 replies

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We're rich! Average American household net worth is $______ [View all] cthulu2016 Jun 2012 OP

basically, only the top 20% own much to speak of. HiPointDem Jun 2012 #1

So the mean actually increased. limpyhobbler Jun 2012 #2

according to the 2002 census of wealth hfojvt Jun 2012 #3

I think maybe you just showed what I was getting at. limpyhobbler Jun 2012 #7

except that "lowest 20%" is a division by income hfojvt Jun 2012 #8

Oh OK I see that now. limpyhobbler Jun 2012 #9

"There's lies, damned lies, and statistics." hobbit709 Jun 2012 #16

Yes, having zero doesn't necessarily move the median cthulu2016 Jun 2012 #14

Ah that's why you get these idiots saying that economics isn't a zero-sum game! Zalatix Jun 2012 #4

Wrong Cali_Democrat Jun 2012 #5

LOL @ that picture! Zalatix Jun 2012 #13

The top 1% owns 40% of the total wealth in the U.S. Egalitarian Thug Jun 2012 #6

It could be worse. The median net worth of single African American women is FIVE BUCKS. TrollBuster9090 Jun 2012 #10

400 years of oppression tends to have that effect on people. limpyhobbler Jun 2012 #11

+1000 Liberal_in_LA Jun 2012 #15

$1.98 after taxes. HopeHoops Jun 2012 #12

These stats perplex me Proud Public Servant Jun 2012 #17

I can't see the chart but here's the theory dmallind Jun 2012 #19

But I still can't understand the absolute numbers Proud Public Servant Jun 2012 #20

Retired people. taught_me_patience Jun 2012 #22

Living off savings = no income cthulu2016 Jun 2012 #23

I often feel so... LanternWaste Jun 2012 #18

I'm curious as to whether the under 35 is skewing the median lower taught_me_patience Jun 2012 #21