How wealth inequality crowds out America’s success


What happens when a lot of money — I mean, a lot of money — is concentrated in a few hands?

The nation runs the risk of economic failure.

This short video says that more money is concentrated in fewer hands than we think.

Description from the maker, Politizane:

Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is.

This is just one facet of the figures necessary for having rational discussions about tax reform, federal budget and deficit cutting, tax policy, and economic and monetary policy.

But it’s an ugly portrait, isn’t it?  How much does it differ from the France of Louis XVI and Marie Antoinette?  How much does it differ from the going-to-hell-in-an-accelerating-handbasket U.S. of 1929?  Wealth’s concentration in the hands of a tiny few literally crowds out hundreds of millions of Americans from the ability to successfully accumulate modest nest eggs.

What do you think?

I wish the film’s creator had provided citations.

Have things improved since 2007?  Look at this chart based on Institute for Policy Studies figures:

Maldistribution of U.S. wealth, 2007; Inst for Policy Studies

Source: Institute for Policy Studies, via BusinessInsider

More:

More, since the original posting:

Update March 9, 2013:  This is funny, to me:  Some people think just talking about this stuff is “class warfare.”  How are they so familiar with class warfare, you wonder?  That’s a self-answering question, isn’t it?

6 Responses to How wealth inequality crowds out America’s success

  1. […] reposted this little movie today, which reminded me that nothing good has changed since last March. Looks like there’s not much chance of saving America soon, either, with the way things are […]

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  2. […] “How wealth inequality crowds out America’s success” […]

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  3. JamesK says:

    So the GOP is prepping a bill to bring back the White House tours.

    Meanwhile they let these programs continue to be cut:

    Thousands Of Job Cuts… Fewer Firefighters, Teachers… Army Tuition Assistance Program Loses Funding… Major Hospital Cuts… Vital Pre-K Program Slashed… Widespread Airport Delays… Poorest Schools On The Line…Seniors’ Cancer Care Affected… Clean Energy ‘Decelerated’… Homeless Vets At Risk… NASA On The Chopping Block… Parks Budget Devastated

    Tell me, Joe, exactly how do you reconcile what the GOP wants to do with what Jesus Christ taught?

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  4. […] How wealth inequality crowds out America’s success (timpanogos.wordpress.com) […]

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  5. Ed Darrell says:

    Here’s an interesting claim:

    Upward redistribution of income is responsible for about 43% of the projected Social Security shortfall over the next 75 years.[16]

    Source: “The Impact of the Upward Redistribution of Wage Income on Social Security Solvency” Center for Economic and Policy Research, 12 February 2013

    Like

  6. […] tip to Ed Darrell. And, good for him, since I think it is very important that this information get around. Not so […]

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