Shocking Report Shows America’s Top 1% Now Richer than Bottom 90% COMBINED

As the federal government continues to fleece Americans to give that money to their corporate masters, the wealth gap is expanding, rapidly, according to a new report. By Matt Agorist Another jaw-dropping report was released this week that draws attention to the staggering wealth of just a small handful of people as compared to everyone else. America’s richest one percent now own more wealth than the poorest 90 percent of the entire country—combined. Indeed, according to the most recent data by economist Edward N. Wolff, this very elite group of people owns nearly half of the entire country’s wealth. The paper, written by economist Edward N. Wolff, used data from the federal Survey of Consumer Finances. The data showed that the wealth owned by the one percent shot up by nearly three percentage points since 2013, from 36.7 percent to 39.6 percent. That number represents the most wealth owned by the one-percenters in […] Read More

Meet the 1 Percenters Finding Solace in Redistribution

Farhad Ebrahimi at Occupy Boston in 2011. (Photo: WNV / Farhad Ebrahimi) In a political and economic system seemingly tailor-made for the 1 percent, backlash against “wealth therapy” – the trend of moneyed Americans seeking counsel through their Occupy-induced feeling of shame and isolation – is well-placed. While the top 0.1 percent of families in the United States possess as much wealth as the bottom 90 percent, money psychologist Jamie Traege-Muney moaned to The Guardian that the movement wrongly “singled out the 1 percent and painted them globally as something negative.” But a growing cadre of this statistical owning class are now crafting a healthier relationship to the rabble at their doorstep. Responding to Occupy and other movement moments, young people with wealth are organizing the resources of their peers and families to level the playing field – and support one another in the process. “It’s not that I disagree that having […] Read More

Richest 1% to own more than half world’s wealth by 2016 – Oxfam

As global movers and shakers head to the World Economic Forum in Davos, Switzerland, Oxfam is warning that an increasing wealth disparity is “leaving ordinary people voiceless and their interests uncared for.” The collective wealth of the world’s richest 1 percent will exceed that of the other 99 percent of the global population next year, unless steps are taken to address the inequality, Oxfam warned ahead of the annual Davos meeting. Oxfam, an anti-poverty charity, released a report titled, “Wealth: Having It All and Wanting More,” which reveals that the richest 1 percent, who had an average wealth of $2.7 million per adult in 2014, have seen their share of global wealth soar yet further, increasing from 44 percent in 2009 to 48 percent in 2014. At this rate, the richest 1 percent, who became the focal point of public outrage during the 2011 Occupy Wall Street protests, will […] Read More