Top 10% controls 96% of the wealthThe so-called growing rich-poor gap in "classless" America is a euphemism for the existence of an accelerated class struggle against American workers and the poor by a relatively small minority that possesses or has access to great wealth and power.
The Census Bureau reported Sept. 24 that the income differential between rich and poor Americans was greater in 2009 than any time since such records were kept.
Another Census report two weeks earlier revealed that America's largest year-to-year increase in poverty took place in 2009, although its estimate of43.6 million people living in poverty is considered a serious undercount based on outmoded measurement criteria. Young workers and children are fast falling to the bottom of the heap. The biggest poverty jump last year was among 18 to 24 year old "less-skilled" adults, and 20% of our children live in poverty.
The Associated Press reported Sept. 28 that "The top-earning 20% of Americans — those making more than $100,000 each year — received 49.4% of all income generated in the U.S., compared with the 3.4% earned by those below the poverty line, according to newly released Census figures. That ratio of 14.5-to-1 was an increase from 13.6 in 2008 and nearly double a low of 7.69 in 1968.
"A different measure, the international Gini index, found U.S. income inequality at its highest level since the Census Bureau began tracking household income in 1967. The U.S. also has the greatest disparity among Western industrialized nations in the Organization for Economic Cooperation and Development."
Following are some recent statistics and statements that show how wide is the chasm between the upper class and the rest of American society, from the poorest of the poor through the working class and middle class.
(Note in following paragraphs the difference between "income," meaning what you earn each year, and "wealth," meaning income plus assets — assets being everything you own, from your house, car and furnishings to all your property, savings, stocks and bonds, yachts, jewelry, etc.
According to the Wall St. Journal, a 2008 study of wealth in the United States found that the richest .01%(that's one-hundredth of one percent, or 14,000 American families) possess 22.2% of the nation's wealth. The bottom 90%, or over 133 million families, control just 4% of the nation's wealth. The remaining top 9.99% made ends meet with what's left,73.8%.
David DeGraw also has written that "a recent study done by Capgemini and Merrill Lynch Wealth Management found that a mere 1% of Americans are hoarding $13 trillion in investable wealth...and that doesn’t even factor in all the money they have hidden in offshore accounts."
A recent report by Ray B. Williams points out that "The U.S. Census Bureau and the World Wealth Report 2010 both report increases for the top 5% of households even during the current recession. Based on Internal Revenue Service figures, the richest 1% have tripled their cut of America's income pie in one generation. In 1980 the richest 1% of America took 1 of every 15 income dollars. Now they take 3 of every 15 income dollars.... Income inequality has been rising since the late 1970s, and now rests at a level not seen since the Gilded Age (1870 to 1900), a period in U.S. history defined by the contrast between the excesses of the super-rich and the squalor of the poor."
Before you read the following bullshit sob story about these people who allegedly had their liberties infringed upon consider a few points: 1) This is on David Ickes website, this is something you can contemplate later (while ruminating on reptilian shapeshifters). 2) The multi-millionaires are upset because they were not allowed to start a 15,000 head/ cattle slaughter operation. Thats BIG MONEY, far from organic, and far from self-sustaining (review the consumer environment section for more on that). This would be a lot different were they just trying to make a sustainable small scale operation for themselves. 3) Then they have the nerve to conflate it with the global warming debate.THIS IS WHY I CALL IT FREEDUMB, DO YOU THINK I GIVE A FUCK ABOUT MULTIMILLIONAIRES AND THEIR BIG AGRI CHOP SHOPS. FUCK THEIR CANCEROUS RIGHTS.
This is a particularly nasty story about warming alarmist facism by the Government of Western Australia and the retribution they let rip on a family resulting in the Thompsons receiving an eviction notice with just 4 days warning.
Matt and Janet Thompson came from America, invested millions of their own money trying to start a farm with 15,000 head of cattle, and was going well until Matt questioned the climate change lunacy and policies of Western Australia. In a move worthy of North Korea the government machine closed ranks and set about destroying the Thompsons. by burying their business in red tape and never ending licence applications.
So far a black Holden has not turned up in the dead of night to cart Matt Thompson off to the Gulag in Arnhem Land, but it could only be a question of time as eco facism takes hold in Western Australia.
I need your help, because they need your help. Please read this whole story and consider if you can help. WUWT readers may recall this story: Death of a Feedlot Operator …in which the anal-retentive government of West Australia has “licensed” a family farm out of operation due to some shonky science and arbitrary application of the “sniff test”. Yes that’s right, cattle farms smell, so do pig farms, as does any farm. But now it’s reason to shut one out due to baseless complaints from the local greens. And, it all started when Matt Thompson started doubting global warming and talking about it publicly.
I’ve never made a plea to the WUWT worldwide readership for help, I’m making one now to donate to these people to stave off eviction. If nothing else, do it to spite the government of Western Australia and the greens (Environmental Defender’s Office WA) that have turned farming into a “crime”. The real crime is that government listens to these hotheads.H/T WUWT
This sort of behaviour by Church of Climatology administrations is likely to become the norm, as having failed to scare us shitless with the climate change lie, they will now seek to force their will on people by methods favoured by totalitarian regimes.
Don’t bring your investment dollars to Western Australia — not while the Department of the Environment effectively controls the state.
The Thompsons waited a full year to get Works Approval for a 15,000 head feedlot. After they had already committed the capital, the rules kept shifting. They discovered they’d need ongoing licenses as well. After several years of ramping up the capacity on these licenses, things changed. Matt spoke out as a skeptic. About that time, the renewals were delayed, then the numbers were cut in half, and new conditions were added that were impossible to meet. To feed and supply water for thousands of cattle the Thompsons had to sign agreements in advance to pay for hundreds of thousands of dollars of goods they could not use, but had no way of knowing that at the time. When they appealed, it took 18 months to get “vindicated” but by then there was only six months left on the “two year” license. Not enough to set up all the contracts and run a business. The new sub-clauses meant that even licenses for a qualified “10,000″ head had vague untestable conditions: the license you have when you don’t have a license. H/T JoNova