Friday, January 16, 2015
This article is about the rise of the top one percent, using data from the last decade economists at the London school of economics, have determined that the top 0.1% percent of American households control more than 22% of the nations wealth. This is caused by the wealthy being paid more (or earning more from their investments) and the poor aren't able to save. Top incomes are being saved at high rates, pushing wealth concentration up, in turn, rising wealth. According to the AFL-CIO, the CEO's of S&P 500 index companies made on average 12,259,581 or 354 times that of the average rank and file U.S. worker. I think that capitalism is the best of the options that we have available, yeah it has its issues but what would we do have Communism and have CEO's making the same amount of money as a cashier at McDonald's. Nobody wants that to happen.
http://mic.com/articles/107622/this-terrifying-chart-shows-the-unstoppable-rise-of-the-point-one-percent
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Its scary to see that most of our nations wealth is in the top percent of the people in our country. The middle class needs to have a steady growth because that makes up the majority of the people in this country.
ReplyDeleteI believe that this a case of economic inequality and will eventually hurt the economy. When very few people share the wealth, it creates a major divide in social classes.
ReplyDeleteI agree with Emma. A big corporation that pays the top people millions per year could easily afford to pay the average worker a bit more but they wont. The rich will continue getting richer and the average American remains just that.
ReplyDeleteThe large wealth gap is definitely an issue in the country that will have to be addressed some way, at some point. The real problem is not so much that their is a wealth gap, but that it's growing so rapidly.
ReplyDeleteI find it scary they 22% of our nations wealth is controlled by people I don't even know. I think we should try and reduce the gap between the upper, middle, and lower class. It would be a nice change for the people and lower out poverty rates I believe.
ReplyDeleteThe idea that such a small number of people control all this wealth is mind-boggling. the gap needs to be made smaller allowing more people the chance to get out of poverty.
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