Wednesday, 11 September 2013

The richest 1% of Americans

The income gap between the richest 1% of Americans and the other 99% widened to a record margin in 2012, according to an analysis of tax filings.

The top 1% of US earners collected 19.3% of household income, breaking a record previously set in 1927.

Income inequality in the US has been growing for almost three decades.
Overall, the pre-tax incomes of the top 1% of households rose 19.6% compared to a 1% increase for the rest of Americans.

This can only suggest that the working slave may become much worse off than the kept slave, as they say it costs money, to put a roof over your head, The National Alliance to End Homelessness says that there are 633,782 people experiencing homelessness on any given night in the US.  142,168 (22.1%) are children, 62,619 (13%) are veterans, and 269,991 (42.6%) are disabled and unable to work.

In addition, two trends are largely responsible for the rise in homelessness in America over the past 20-25 years: a growing shortage of affordable rental housing and a simultaneous increase in poverty.

More than 46 million people, or about 15 percent of the US population, lived below the official poverty level in 2011, according to the US Census Bureau. A report earlier this year from the Bureau of Labor Statistics shows that the “working poor” account for 10.4 million of this number, or nearly a quarter of all those living in poverty.

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