While 68.3 million Americans struggle to get enough food to eat and wages are declining for 90% of the population, US millionaire household wealth has reached an unprecedented level. According to an extensive study by auditing and financial advisory firm Deloitte, US millionaire households now have $38.6 trillion in wealth. On top of the $38.6 trillion that this study reveals, they have an estimated $6.3 trillion hidden in offshore accounts.
In total, US millionaire households have at least $45.9 trillion in wealth, the majority of this wealth is held within the upper one-tenth of one percent of the population.
The highest bracket for annual income is $50 million or more. Only 74 Americans are in this elite group. The average income within this category was $91.2 million in 2008. As astonishing as that is, in 2009 they averaged $518.8 million each, or about $10 million per week. This means, in the depths of the recession, the richest 74 Americans increased their income by more than 5 times within this one year. These 74 people made more money than 19 million workers combined.
Who Rules America? Revealing The Economic Top 0.1%
Shameful. That was the word that Gideon Sa’ar, Israel’s foreign minister, used to describe proceedings at...
Later this month, on the holiday of Purim, Jewish people will dress in silly costumes, eat...
The first amendment guarantees freedom of speech and freedom of assembly. It will have little meaning...
On Monday, August 6, 1945, after six months of intense firebombing of 67 other Japanese cities,...
