Saturday, March 29, 2014

Who owns America?

https://www.facebook.com/RBReich

Robert Reich



[Coppying the text in case the post disappears from Facebook:]

Social movements are fueled by the gap between a society’s ideals and reality. When the gap grows too large, people are moved to action.

What about the reality of who controls the nation’s wealth? The richest fifth of Americans now own almost 90 percent. The top 1 percent owns over 35 percent. The bottom fifth owns almost nothing.

Yet the American ideal is starkly different. According to polls, most would prefer that the top fifth own about a third, and the bottom fifth about 10 percent.

One reason there’s not more ruckus is Americans don’t know the reality. Most believe that the richest fifth own about 60 percent, and the bottom fifth owns about 4 percent.

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