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The top 1% control 40% of the US's wealth, while the next 9% after that control... 36%. But most of that 9% still have to work at something resembling a real jo
by amvalo 8y ago
The top 1% control 40% of the US's wealth, while the next 9% after that control... 36%. But most of that 9% still have to work at something resembling a real job.
So I see nothing wrong with focusing on the top 1%.
- skookumchuck 8y agoThat's incorrect. The government controls most of the US wealth. For starters, the government spends 40% of the GDP. Add to that the value of the military, roads, buildings, schools, etc., and all the land the government owns.
- specialist 8y agoThis is actually correct. Wealth and Democracy: How Great Fortunes and Government Created America's Aristocracy by Kevin Phillips https://www.amazon.com/Wealth-Democracy-Fortunes-Government-Aristocracy-ebook/dp/B000QEJ0U6 https://www.amazon.com/Wealth-Democracy-Fortunes-Government-... Similarly, the USA previously decided three times to explicitly create its middle class. The New Deal, the Homestead Act, etc. Policy choices which were hard fought and narrowly won.
- skookumchuck 8y agoThe middle class existed long before 1930. In fact, the middle class was well established in colonial times. The growth of the middle class in the 19th century can be seen in spectacular gains in life expectancy, infant mortality reduction, and average height.