Saturday, August 13, 2011

Who Rules America?





I got these charts from the blog: Who Rules America; Wealth, Income and Power:
Text Box:
Table 1: Distribution of net worth and financial wealth in the United States, 1983-2007


Total Net Worth
Top 1 percent
Next 19 percent
Bottom 80 percent
1983
33.8%
47.5%
18.7%
1989
37.4%
46.2%
16.5%
1992
37.2%
46.6%
16.2%
1995
38.5%
45.4%
16.1%
1998
38.1%
45.3%
16.6%
2001
33.4%
51.0%
15.6%
2004
34.3%
50.3%
15.3%
2007
34.6%
50.5%
15.0%


Financial Wealth
Top 1 percent
Next 19 percent
Bottom 80 percent
1983
42.9%
48.4%
8.7%
1989
46.9%
46.5%
6.6%
1992
45.6%
46.7%
7.7%
1995
47.2%
45.9%
7.0%
1998
47.3%
43.6%
9.1%
2001
39.7%
51.5%
8.7%
2004
42.2%
50.3%
7.5%
2007
42.7%
50.3%
7.0%

Total assets are defined as the sum of: (1) the gross value of owner-occupied housing; (2) other real estate owned by the household; (3) cash and demand deposits; (4) time and savings deposits, certificates of deposit, and money market accounts; (5) government bonds, corporate bonds, foreign bonds, and other financial securities; (6) the cash surrender value of life insurance plans; (7) the cash surrender value of pension plans, including IRAs, Keogh, and 401(k) plans; (8) corporate stock and mutual funds; (9) net equity in unincorporated businesses; and (10) equity in trust funds.
Total liabilities are the sum of: (1) mortgage debt; (2) consumer debt, including auto loans; and (3) other debt. From Wolff (2004, 2007, & 2010).





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