Thursday, February 25, 2010
The Rich get Richer, while the Poor get Poorer
We've all heard the saying, "The rich get richer and the poor get poor," but this graph lays it out in a way that both shocking and disturbing. In the 1960s, bottom 90% of the population controlled over 65% of the wealth in America. Now, the bottom 90% (the common folks) control less than 15%. What's even more stunning is the fact that the top 1% controls over 65% of the wealth. This economic disparity resembles the situation had during the 1920s and we all know how well that turned out.