Concentration of Wealth = An Influence Lock On Our Politics

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from OurFuture.org:



Concentration of Wealth = An Influence Lock On Our Politics
By Dave Johnson

November 28, 2009 - 1:19pm ET


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Since the Reagan-era changes in the country's tax and regulation policies more and more of the wealth and income generated by our economy has been flowing upward to fewer and fewer people. We have now reached the point where wealth is at least as concentrated as it was in 1929. With similar consequences.

Just how concentrated is the wealth and income? The L-Curve website graphically illustrates the disparity. Here's how it works.

Picture a football field. Each of the 100 years is 1% of the population. At any point on the field you pile a stack of $100 bills to represent the income that a family in that percentile makes. So the median family income would be on the 50-yard line.

According to the site (old data), in 2005 the median family was approx. $40,000, and the stack of $100 bills would be about 1.6 inches high.

The family on the 95-yard line makes about $100K, a stack about 4 inches high.

99-yard line, $300K, about a foot high.

One foot line, top 1/3 of one percent, $1 million, 40 inches. ............(more)

The complete piece is at: http://www.ourfuture.org/blog-entry/2009114828/concentration-wealth-influence-lock-our-politics