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Friday, September 24, 2010

Americans Vastly Underestimate Wealth Inequality

Americans vastly underestimate the degree of wealth inequality in America, and we believe that the distribution should be far more equitable than it actually is, according to a new study.

Americans thought the richest 20 percent of our society controlled about 59 percent of the wealth, while the real number is closer to 84 percent.”

So income redistribution is in full effect. We’re setting up the rich to get richer. Not because they work harder, a field worker works hard, but because they have countless tax break and tax shelter options to keep more of their wealth.

A visual representation: if you took the yearly income of an average person in the United States, which is around $50,000, and stacked it in $100 bills, it would measure 1.6 inches off the ground.

Bill Gates’ $50 billion is 31 miles high. That’s over three times the height of Mount Everest. The stratosphere ends 30 miles above the Earth’s surface.

Sickening how America targets those with so little.

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