I know I've belabored the subject of wealth inequality before, but I read a couple of statistics recently that worked on the subject in a different way so I thought I ought to share.
A recent article in The Atlantic said that so far, 0.000063 percent of the country's population have given more than 80% of the Super PAC money that's been spent in the presidential election. In case you're slow at math, that's 196 super wealthy people. So much for evil corporations, who know that their bottom line is affected by both parties in power.
Apparently, these 196 people think they ought to buy the election and affect the outcome in their favor. One guesses that favor would lead to them being able to be even more super wealthy.
So much for the evil 1%. The 99-percenters are going to have to change their name. To the 99.999937-percenters.
The other wealth statistic was that the average Canadian is now richer than the average American. The net worth of the average Canadian household in 2011 was $363,202, while the average American household net worth was $319,970.
Canada! A country with universal health care. And no Super PACs!
But that's too easy. This is average net worth. That means the wealth of the top .000037% has been averaged with the wealth of John Q. Unemployed in Detroit, Michigan.
And that means an even more disconcerting conclusion. Even though the rich got richer recently, the country as a whole still got poorer.
All I can say is, I hope the Super PACkers plan to use the results of their election to finally create some of those new jobs they told us they need to be free from regulation to do.
So we can all pack on some more wealth.
America, ya gotta love it.
Friday, August 10, 2012
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