"The correlation between accumulation of capital and rate of wages is nothing else than the correlation between the unpaid labour transformed into capital..." Karl Marx
As a society, we are uneducated on the topic of wealth inequality in America. The bottom 80 percent of the nation's population has only seven percent of it's wealth where as the top one percent of our nation's population has 40 percent of its wealth.
The disproportionate distribution of money in America has been separating rapidly over the last twenty to thirty years. In 1976 the richest 1 percent took home 9 percent of the national income. Comparatively speaking in 2012 the richest 1 percent had nearly tripled, taking 24 percent of the national income.
To continue with the inequality, the top 1 percent owns 50 percent of the country's stocks, bonds and mutual funds where as the bottom 50 percent only own .5 percent of the country's stocks, bonds and mutual funds. After educating each other on the facts the next step is to ask ourselves why this is happening and what to do about it.
- Abbie McMillan
Want more details? Check out this video for more in depth learning.
Good post, Abbie. Very informative on the wealth inequality in America. The statistics you cite showing the wide gulf between the haves and havenots are staggering. Good job of posting the video that readers can go to for more information. You pose a good final thought for everyone to ponder: What to do about it?
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