These charts reflect information in a report by the Stanford Center on Poverty and Inequality. It shows that the United States is leading the developed world in inequality of wealth. The top 1% in the U.S. controls 41.8% of the nation's total wealth, leaving the other 99% to divide up 58.2% of the wealth. The next closest nation is Germany, where the top 1% controls 24.5% of that nation's wealth.
And in the U.S., the top 10% controls 77.2% of the nation's wealth, leaving 22.8% of the nation's wealth to be divided among the bottom 90% of the population.
These charts clearly show what the Republican "trickle-down" economic policy has done to the country. While the rich are doing very well under that policy, the bottom 90% are not. And sadly, the Republicans now want to cut taxes for the rich (and corporations), creating an even bigger wealth gap between the rich and the rest of America.
The last time wealth equality was this far out of whack was in the 1920's, and that resulted in the Great Depression. We were warned that another one may be on its way by the Bush Recession, but it doesn't look like our politicians were listening.
We are becoming a nation of haves and have-nots. We must close this wealth (and income) gap or we are courting another economic disaster. No economy can survive such wealth inequality.
