08-02-2011, 11:15 PM
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Registered User
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Join Date: Nov 2002
Location: Scottsdale, Arizona
Posts: 10,626
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The Rich Are Different Than You and Me
From last month's Atlantic:
Between 2002 and 2007, 65 percent of all income growth in the U.S. went to the richest 1 percent of the population. That lopsided distribution means that today, half of the national income goes to the richest 10 percent. In 2007, the top 1 percent controlled 34.6 percent of the wealth—significantly more than the bottom 90 percent, who controlled just 26.9 percent.
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Many of today’s super-rich started out in the middle and make most of their money through work, not inheritance. Ninety-five years ago, the richest 1 percent of Americans received only 20 percent of their income from paid work; in 2004, that income proportion had tripled, to 60 percent.
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