Tag Archives: disparity

Average America vs the One Percent

By Alan Dunn, Contributor

If the Occupy movement does nothing else, it has at least introduced a new set of terms into the American vocabulary to talk about the distribution of wealth in America. Until recently, most average people had no idea how wealth was distributed in the country; most people had a vague idea of a wealthy minority, but they rarely grasped the full extent of income disparity between classes. Now, most people are aware of the notion of the 1 percent, although they still may not know exactly what it means or how that unequal distribution of wealth applies to the rest of the country.

Unequal wealth distribution is hardly a new or uniquely American problem. In fact, it’s been prevalent throughout society since humans first built civilizations: A small minority of aristocrats has always wielded the most power throughout history. In modern times, America lags behind nearly every other first-world nation in closing the gap between the classes. In fact, we’re making it worse.

The Distribution of Wealth Between Americans

Before you can talk about the 1 percent, it’s important to put the figures into perspective by understanding exactly what that figure means. The average annual income of the top 1 percent of the population is $717,000, compared to the average income of the rest of the population, which is around $51,000. The real disparity between the classes isn’t in income, however, but in net value: The 1 percent are worth about $8.4 million, or 70 times the worth of the lower classes.

The 1 percent are executives, doctors, lawyers and politicians, among other things. Within this group of people is an even smaller and wealthier subset of people, 1 percent of the top, or .01 percent of the entire nation. Those people have incomes of over $27 million, or roughly 540 times the national average income. Altogether, the top 1 percent control 43 percent of the wealth in the nation; the next 4 percent control an additional 29 percent.

It’s historically common for a powerful minority to control a majority of finances, but Americans haven’t seen a disparity this wide since before the Great Depression — and it keeps growing.

The Fallacy of Hard Work

It’s a common belief in America that all people have the same opportunity for success as the top 1 percent. Most people consider success to be a by-product of hard work, and hard work is something that Americans are extremely familiar with. In fact, Americans have increased productivity by 80 percent since 1979; unfortunately, their income hasn’t risen accordingly, if at all.

The average worker in an American company makes substantially less than supervisors and executives. In fact, corporate executives make 62 times more money than an average worker in bonuses alone, not counting the executive’s actual salary. For every corporate bonus, the company could have paid 62 employees. In fact, incentive pay actually rose 30 percent from years before the recession.

A Difference in Lifestyle: Americans and the 1 Percent

It’s no surprise that people in different classes spend their money differently. A person’s priorities change when he becomes wealthy, and certain expenses don’t vary much from one class to the next. The cost of food, healthcare and other expenses remains constant between classes, while the relative income may vary substantially.

For example, all Americans pay an average of a third of their incomes for housing. The second highest expense of top earners in America is transportation; the rich spend about 17 percent of their income traveling for business and pleasure. On the other hand, the lower classes spend about 17 percent of their income on feeding their families.

Read more » Forbes
http://www.forbes.com/sites/moneywisewomen/2012/03/21/average-america-vs-the-one-percent/

Pakistan : Not revolution but anarchy

– Not revolution but anarchy

by Waseem Altaf

Revolution refers to drastic change in thinking and behaving in the cultural, economic and socio-political context.

Socio-economic deprivation or gross disparity or conflict of interest among competing groups causes frustration which leads to aggression. The aggression so caused is channelized by leaders who symbolize an ideology. A critical mass of the population is necessary who are supportive of this ideology.

Today people in Pakistan are frustrated. This has caused aggression. The manifestations of this aggression are visible everywhere. The irritability of the common men, show of force and inflammatory speeches in public rallies, ever increasing crime rate, intolerance and impatience are all indicative of this aggression. However there is no such leader who has an ideology and who enjoys the support of a critical mass of the population which can bring about a revolution in this country. Hence the thought of revolution becomes even more irrelevant in a country where there are so many ethnic, social, political and religious divides with no leader enjoying mass support at the national level.

However this country is fast drifting towards a change. Let us see what the present state of the nation is:

Today it is not the government, the parliament, the media, the judiciary or even the army which calls the shots but the firebrand mullah in the streets who determines the tone and tenor of the statements and initiatives emanating from all the so called pillars of the State. Sherry Rahman has withdrawn the blasphemy bill, informed the Prime Minister on Wednesday 2nd of Feb. Sitting ministers either support the stance taken by the mullah or remain silent. While it is Mumtaz Qadri versus the State, the case has been shifted to Adiala jail for proceedings as the State does not feel secure in an open court in Islamabad. Last time the public prosecutor could not attend the court as the jail premises was thronged by Sunni Tehrik supporters of Mumtaz Qadri.Today the conduct of the Parliament is determined by the mullah as in the Senate, it was not allowed to say fateha for Salman Taseer in response to a resolution moved by Senator Nilofar Bakhtiar. Even the liberal MQM members refused and not a single member of PPP rose to support the resolution. …

Read more : View Point

Unlikely Scenario?

By B. R. Gowani

Courtesy: Globeistan.com

10% is the official unemployment rate

Nor is the unofficial rate too great:

The Economy is on a downward slide

And by now, people’s hopes have died

So all of the employed make a plan

To join the jobless; to form a clan

They declare a total general strike

To break the rulers’ disparity-dyke

Most dependent is the capitalist class

That forms a part of the exploiting brass

To maintain the greatest democracy façade

They appealed calmly while hiding the rod

Patriotism, nationalism, enemy, and flag

The usual bull shit were used to gag

But the people have really united this time

And are in no mood to join the elite’s chime

Continue reading Unlikely Scenario?