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Wealth, Income, and Power
by G. William Domhoff
This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators.
Some of the information may come as a surprise to many people. In fact, I know it will be a surprise and then some, because of a recent study (Norton & Ariely, 2010) showing that most Americans (high income or low income, female or male, young or old, Republican or Democrat) have no idea just how concentrated the wealth distribution actually is. More on that a bit later.
As far as the income distribution, the most striking numbers on income inequality will come last, showing the dramatic change in the ratio of the average CEO's paycheck to that of the average factory worker over the past 40 years.
SNIP...
Historical context
Numerous studies show that the wealth distribution has been concentrated throughout American history, with the top 1% already owning 40-50% in large port cities like Boston, New York, and Charleston in the 1800s. (But it wasn't as bad in the 18th and 19th centuries as it is now, as summarized in a 2012 article in The Atlantic.) The wealth distribution was fairly stable over the course of the 20th century, although there were small declines in the aftermath of the New Deal and World II, when most people were working and could save a little money. There were progressive income tax rates, too, which took some money from the rich to help with government services.
CONTINUED...
http://www2.ucsc.edu/whorulesamerica/power/wealth.html
The plutocrats get scared when people learn.
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