Systematically Wiped Out Of Existence In America
The 22 statistics that you are about to read prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.
The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.
1). 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
2). 61 percent of Americans "always or usually" live paycheck to paycheck, which
was up from 49 percent in 2008 and 43 percent in 2007.
3). 66% of the income growth between 2001 and 2007 went to the top 1% of all
4). 36 percent of Americans say that they don't contribute anything to retirement
5). A staggering 43 percent of Americans have less than $10,000 saved up for
6). 24% of American workers say that they have postponed their planned
retirement age in the past year.
7). Over 1.4 million Americans filed for personal bankruptcy in 2009, which
represented a 32 percent increase over 2008.
8). Only the top 5 percent of U.S. households have earned enough additional
income to match the rise in housing costs since 1975.
9). For the first time in U.S. history, banks own a greater share of residential
housing net worth in the United States than all individual Americans put
10). In 1950, the ratio of the average executive's paycheck to the average
worker's paycheck was about 30 to 1. Since the year 2000, that ratio has
exploded to between 300 to 500 to one.
11). As of 2007, the bottom 80 percent of American households held about 7% of
the liquid financial assets.
12). The bottom 50 percent of income earners in the United States now
collectively own less than 1 percent of the nation’s wealth.
13). Average Wall Street bonuses for 2009 were up 17 percent when compared
14). In the United States, the average federal worker now earns 60% MORE than
the average worker in the private sector.
15). The top 1% of U.S. households own nearly twice as much of America's
corporate wealth as they did just 15 years ago.
16). In America today, the average time needed to find a job has risen to a record
17). More than 40% of Americans who actually are employed are now working in
service jobs, which are often very low paying.
18). For the first time in U.S. history, more than 40 million Americans are on food
stamps, and the U.S. Department of Agriculture projects that number will go
up to 43 million Americans in 2011.
19). This is what American workers now must compete against: in China a
garment worker makes approximately 86 cents an hour and in Cambodia a
garment worker makes approximately 22 cents an hour.
20). Despite the financial crisis, the number of millionaires in the United States
rose a whopping 16 percent to 7.8 million in 2009.
21). Approximately 21 percent of all children in the United States are living below
the poverty line in 2010 - the highest rate in 20 years.
22). The top 10% of Americans now earn around 50% of our national income.