Skewed: Income Inequality in America. The American Dream has Gone…
By Finance Degree Center
Global Research, December 14, 2015
Finance Degree Center
Url of this article:

First published in December 2013

Income Inequality


Opportunity in America: It’s shrinking

Except for the few
[% wealth held by percentile][4]
0-50th: 1.1
50-90th: 24.3

Lowest 60% of earners are making < the wealthiest 400 Americans:
$1.22 trillion vs. $1.27 trillion [6]

To put that in context: The average wealth of one of the 400 richest Americans is equal to the average wealth of 510,000 people in the bottom 60%
With the 1%’s wealth much more tied to the real estate, stock market

Note: The SNAP (food stamp) budget of $78 billion is less than the investing budget of 20 wealthy Americans[8]

CEO vs. Worker inequality 
The Average CEO makes 354 times what the average worker makes[3]
[year: ratio between worker/CEO earnings]
1982: 42:1
1992: 201:1
2002: 281:1
2012: 354:1

Differences in expendable income are staggering

The average nationwide 1 adult living wage is $19546.17. Here’s how that breaks down per quintile:

Per month:

20%– -$3188
40%– +$12641
60%– +$37655
80%– +$77751
90%– +$134,584
99%– +$487,006


20%– -$61.3
40%– +$243.09
60%– +$724.13
80%– +$1495.21
90%– +$2588.15
99%– +$9365.5

Per week.

With Strong Racial Correlates
The Average White household in 2007 had a net worth of $143,600
14 TIMES the average net worth of Hispanic or black households[7]

Myth: rich Americans don’t pay their taxes
But at least the super rich pay their taxes.
With the top 400 earners paying $16 billion in taxes.[5]

But that doesn’t help the 21.4% of children who grow up in poverty. [7]

Without greater income equality democratic ideals are a sham.

Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article.