Rich America and Everyone Else

I don’t begrudge people who work hard and make money – I do get tired of people who flaunt their wealth to make others look bad – but that’s another topic ūüôā I also think there are a lot of people making far more money than they are worth – that’s another topic too….

But however you feel about wealth in America – I have a feeling you will find these stats surprising…

The following are 21 facts about ‚Äúwealthy America‚ÄĚ and ‚Äúpoor America‚ÄĚ that are hard to believe‚Ķ

#1 The lowest earning 23,303,064 Americans combined make 36 percent less than the highest earning 2,915 Americans do.

#2 40 percent of all American workers (39.6 percent to be precise) make less than $20,000 a year.

#3 According to the Pew Research Center, the top 7 percent of all U.S. households own 63 percent of all the wealth in the country.

#4 On average, households in the top 7 percent have 24 times as much wealth as households in the bottom 93 percent.

#5 According to numbers that were just released this week, 49.7 million Americans are living in poverty.  That is a brand new all-time record high.

#6 In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

#7 Household incomes have actually been declining for five years in a row and total consumer credit has risen by a whopping 22 percent over the past three years.

#8 According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.

#9 The homeownership rate in the United States is at an 18 year low.

#10 The six heirs of Wal-Mart founder Sam Walton have as much wealth as the bottom one-third of all Americans combined.

#11 18 percent of all food stamp dollars are spent at Wal-Mart.

#12 According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

#13 It is hard to believe, but right now 1.2 million students that attend public schools in America are homeless.  That number has risen by 72 percent since the start of the last recession.

#14 One recent study discovered that nearly half of all public students in the United States come from low income homes.

#15 In 1980, CEOs at S&P 500 companies made 42 times as much as their employees did on average.  Today, CEOs at S&P 500 companies make 354 times as much as their employees do on average.  In fact, there are many CEOs that make more than 1000 times what the average employees in their companies make.

#16 U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

#17 At this point, one out of every four American workers has a job that pays $10 an hour or less.

#18 Today, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.

#19 Approximately one out of every five households in the United States is now on food stamps.

#20 The number of Americans on food stamps has grown from 17 million in the year 2000 to more than 47 million today.

#21 At this point, the poorest 50 percent of all Americans collectively own just 2.5 percent of all the wealth in the United States.

Source – http://dcclothesline.com/2013/11/07/america-live-21-hard-believe-facts-wealthy-poor-america/

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3 thoughts on “Rich America and Everyone Else

  1. usawoman says:

    Eye-opening statistics. I may have to adjust my thinking a little bit on this issue. It seems some wealthy are probably making way more than they should, and then they flaunt their riches in the face of the poor. On the other hand, I’ve always believed that when you earn your money, it should be yours.

    • Totally agree about keeping the money you earn — but I cannot think of a job where a person deserves the pay they are getting in some cases. No CEO deserves 1000 times or even 200 times what the people in the trenches every day are making. Especially the people in companies that are losing money. How many times did we hear about companies getting bailouts because they were in such bad shape and the people at the top making huge pay and bonuses? I was raised around the concept that a bonus is not automatic – its something we EARN and it is proportional to the job performance AND RESULTS.

  2. […] **** I mentioned that I would add a note about the Walmart heirs – consider the stat above and this stat — from an earlier post on mine on this blog […]

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