{"id":26415,"date":"2011-10-03T20:42:35","date_gmt":"2011-10-04T00:42:35","guid":{"rendered":"http:\/\/fryeblog.blog.lib.mcmaster.ca\/?p=26415"},"modified":"2011-10-03T20:42:35","modified_gmt":"2011-10-04T00:42:35","slug":"chart-of-the-day-the-one-percenters","status":"publish","type":"post","link":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/","title":{"rendered":"Chart of the Day: The One Percenters"},"content":{"rendered":"<p>With the OccupyWallStreet protests spreading and on their way to Canada, it&#8217;s worth reminding ourselves what this is about. From <a href=\"http:\/\/thinkprogress.org\/economy\/2011\/10\/03\/334156\/top-five-wealthiest-one-percent\/\" target=\"_blank\">ThinkProgress<\/a>:<\/p>\n<blockquote><p><strong>1. The Top 1 Percent Of Americans Owns 40 Percent Of The Nation\u2019s Wealth<\/strong>: As Nobel Laureate Joseph Stiglitz\u00a0<a href=\"http:\/\/www.vanityfair.com\/society\/features\/2011\/05\/top-one-percent-201105\">points out<\/a>, the richest 1 percent of Americans now own 40 percent of the nation\u2019s wealth. Sociologist William Domhoff\u00a0<a href=\"http:\/\/sociology.ucsc.edu\/whorulesamerica\/power\/wealth.html\">illustrates this<\/a>\u00a0wealth disparity using 2007 figures where the top 1 percent owned 42 percent of the country\u2019s financial wealth (total net worth minus the value of one\u2019s home). How much does the bottom 80 percent own? Only 7 percent:<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png\" alt=\"\" width=\"277\" height=\"336\" \/><\/a><\/p>\n<p>As Stiglitz notes, this disparity is much worse than it was in the past, as just 25 years ago the top 1 percent\u00a0<a href=\"http:\/\/www.vanityfair.com\/society\/features\/2011\/05\/top-one-percent-201105\">owned 33 percent<\/a>\u00a0of national wealth.<\/p>\n<p><strong>2. The Top 1 Percent Of Americans Take Home 24 Percent Of National Income:<\/strong>While the richest 1 percent of Americans take home almost a quarter of national income today, in 1976\u00a0<a href=\"http:\/\/www.nytimes.com\/2010\/11\/07\/opinion\/07kristof.html\">they took home just 9 percent<\/a>\u00a0\u2014 meaning their share of the national income pool has nearly tripled in roughly three decades.<\/p>\n<p><strong>3. The Top 1 Percent Of Americans Own Half Of The Country\u2019s Stocks, Bonds, And Mutual Funds<\/strong>: The Institute for Policy Studies\u00a0<a href=\"http:\/\/www.businessinsider.com\/15-charts-about-wealth-and-inequality-in-america-2010-4\">illustrates<\/a>\u00a0this massive disparity in financial investment ownership, noting that the bottom 50 percent of Americans own only .5 percent of these investments:<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/invest11.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/invest11.jpg\" alt=\"\" width=\"460\" height=\"313\" \/><\/a><\/p>\n<p><strong>4. The Top 1 Percent Of Americans Have Only 5 Percent Of The Nation\u2019s Personal Debt:<\/strong><\/p>\n<p>Using 2007 figures, sociologist William Domhoff\u00a0<a href=\"http:\/\/sociology.ucsc.edu\/whorulesamerica\/power\/wealth.html\">points out<\/a>\u00a0that the top 1 percent have 5 percent of the nation\u2019s personal debt while the bottom 90 percent have 73 percent of total debt:<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/wealthydebt1.gif\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/wealthydebt1.gif\" alt=\"\" width=\"490\" height=\"260\" \/><\/a><\/p>\n<p><strong>5. The Top 1 Percent Are Taking In More Of The Nation\u2019s Income Than At Any Other Time Since The 1920s:<\/strong>\u00a0Not only are the wealthiest 1 percent of Americans taking home a tremendous portion of the national income, but their share of this income is greater than at any other time since the Great Depression, as the Center for Budget and Policy Priorities\u00a0<a href=\"http:\/\/www.cbpp.org\/cms\/index.cfm?fa=view&amp;id=2908\">illustrates in this chart<\/a>\u00a0using 2007 data:<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/incomeshare.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/incomeshare.jpg\" alt=\"\" width=\"450\" height=\"391\" \/><\/a><\/p><\/blockquote>\n<p>As Professor Elizabeth Warren has explained, \u201cthere is\u00a0<a href=\"http:\/\/www.dailykos.com\/story\/2011\/09\/22\/1019249\/-MA-Sen:-Elizabeth-Warren-video-on-class-warfare-goes-viral\">nobody in this country<\/a>\u00a0who got rich on his own. Nobody\u2026Part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.\u201d More and more often, that is not occurring, giving the protesters ample reason to take to the streets.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the OccupyWallStreet protests spreading and on their way to Canada, it&#8217;s worth reminding ourselves what this is about. From ThinkProgress: 1. The Top 1 Percent Of Americans Owns 40 Percent Of The Nation\u2019s Wealth: As Nobel Laureate Joseph Stiglitz\u00a0points out, the richest 1 percent of Americans now own 40 percent of the nation\u2019s wealth. [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[33],"tags":[],"class_list":["post-26415","post","type-post","status-publish","format-standard","hentry","category-current-events"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chart of the Day: The One Percenters - The Educated Imagination<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart of the Day: The One Percenters - The Educated Imagination\" \/>\n<meta property=\"og:description\" content=\"With the OccupyWallStreet protests spreading and on their way to Canada, it&#8217;s worth reminding ourselves what this is about. From ThinkProgress: 1. The Top 1 Percent Of Americans Owns 40 Percent Of The Nation\u2019s Wealth: As Nobel Laureate Joseph Stiglitz\u00a0points out, the richest 1 percent of Americans now own 40 percent of the nation\u2019s wealth. [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/\" \/>\n<meta property=\"og:site_name\" content=\"The Educated Imagination\" \/>\n<meta property=\"article:published_time\" content=\"2011-10-04T00:42:35+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png\" \/>\n<meta name=\"author\" content=\"Michael Happy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Happy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/\"},\"author\":{\"name\":\"Michael Happy\",\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/#\/schema\/person\/666be62a4e8014df67296baeeaf4db95\"},\"headline\":\"Chart of the Day: The One Percenters\",\"datePublished\":\"2011-10-04T00:42:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/\"},\"wordCount\":391,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png\",\"articleSection\":[\"Current Events\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/\",\"url\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/\",\"name\":\"Chart of the Day: The One Percenters - The Educated Imagination\",\"isPartOf\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png\",\"datePublished\":\"2011-10-04T00:42:35+00:00\",\"author\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/#\/schema\/person\/666be62a4e8014df67296baeeaf4db95\"},\"breadcrumb\":{\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage\",\"url\":\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png\",\"contentUrl\":\"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Chart of the Day: The One Percenters\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/#website\",\"url\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/\",\"name\":\"The Educated Imagination\",\"description\":\"A Website Dedicated to Northrop Frye\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/#\/schema\/person\/666be62a4e8014df67296baeeaf4db95\",\"name\":\"Michael Happy\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/fe523aceeb39b65793575d0523e67cb779a13050efa89e2284a05c0d0a141aa9?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/fe523aceeb39b65793575d0523e67cb779a13050efa89e2284a05c0d0a141aa9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/fe523aceeb39b65793575d0523e67cb779a13050efa89e2284a05c0d0a141aa9?s=96&d=mm&r=g\",\"caption\":\"Michael Happy\"},\"url\":\"https:\/\/macblog.mcmaster.ca\/fryeblog\/author\/michaelhappy\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chart of the Day: The One Percenters - The Educated Imagination","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/","og_locale":"en_US","og_type":"article","og_title":"Chart of the Day: The One Percenters - The Educated Imagination","og_description":"With the OccupyWallStreet protests spreading and on their way to Canada, it&#8217;s worth reminding ourselves what this is about. From ThinkProgress: 1. The Top 1 Percent Of Americans Owns 40 Percent Of The Nation\u2019s Wealth: As Nobel Laureate Joseph Stiglitz\u00a0points out, the richest 1 percent of Americans now own 40 percent of the nation\u2019s wealth. [&hellip;]","og_url":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/","og_site_name":"The Educated Imagination","article_published_time":"2011-10-04T00:42:35+00:00","og_image":[{"url":"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png","type":"","width":"","height":""}],"author":"Michael Happy","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Michael Happy","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#article","isPartOf":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/"},"author":{"name":"Michael Happy","@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/#\/schema\/person\/666be62a4e8014df67296baeeaf4db95"},"headline":"Chart of the Day: The One Percenters","datePublished":"2011-10-04T00:42:35+00:00","mainEntityOfPage":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/"},"wordCount":391,"commentCount":0,"image":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage"},"thumbnailUrl":"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png","articleSection":["Current Events"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/","url":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/","name":"Chart of the Day: The One Percenters - The Educated Imagination","isPartOf":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage"},"image":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage"},"thumbnailUrl":"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png","datePublished":"2011-10-04T00:42:35+00:00","author":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/#\/schema\/person\/666be62a4e8014df67296baeeaf4db95"},"breadcrumb":{"@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#primaryimage","url":"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png","contentUrl":"http:\/\/thinkprogress.org\/wp-content\/uploads\/2011\/10\/distribution.png"},{"@type":"BreadcrumbList","@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/2011\/10\/03\/chart-of-the-day-the-one-percenters\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/macblog.mcmaster.ca\/fryeblog\/"},{"@type":"ListItem","position":2,"name":"Chart of the Day: The One Percenters"}]},{"@type":"WebSite","@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/#website","url":"https:\/\/macblog.mcmaster.ca\/fryeblog\/","name":"The Educated Imagination","description":"A Website Dedicated to Northrop Frye","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/macblog.mcmaster.ca\/fryeblog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/macblog.mcmaster.ca\/fryeblog\/#\/schema\/person\/666be62a4e8014df67296baeeaf4db95","name":"Michael Happy","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/fe523aceeb39b65793575d0523e67cb779a13050efa89e2284a05c0d0a141aa9?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/fe523aceeb39b65793575d0523e67cb779a13050efa89e2284a05c0d0a141aa9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fe523aceeb39b65793575d0523e67cb779a13050efa89e2284a05c0d0a141aa9?s=96&d=mm&r=g","caption":"Michael Happy"},"url":"https:\/\/macblog.mcmaster.ca\/fryeblog\/author\/michaelhappy\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/posts\/26415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/comments?post=26415"}],"version-history":[{"count":0,"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/posts\/26415\/revisions"}],"wp:attachment":[{"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/media?parent=26415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/categories?post=26415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/macblog.mcmaster.ca\/fryeblog\/wp-json\/wp\/v2\/tags?post=26415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}