Income Distribution

[clarence swinney]

INCOME DISTRIBUTION

TOP 1%
1976--8.9%
2007---23.5%
1928---23%

Net worth Forbes 400—2007—1.5 TRILLION
Net worth Poorest 50%-2007---1.6 Trillion

Minimum wage--$7.25 per hour
Ceo Chesapeake Energy--$27,034.74 per hour

Average hourly wage inflation adjusted—1972--$20.06
Average hourly wage inflation adjusted----2008--$18.52

“Real” after-tax income growth 1979-2008
Bottom quintile to top—11%-18-21-32-86-112%-(Top 5% 143%—Top 1% 256%)
Change Family Income growth 1947-1979
Bottom quintile to top---+116%-100-111-114-99-86%

1945-1979 was Equitable Distribution
1980-2008 was Third World Distribution

Harvard and Duke Universities made a survey of 5000 people.
They showed the Wealth held by the richest 20% and middle 20% of population in two nations.
One was labeled A one B. 92% chose A.

In A the distribution was 20% had 36% of wealth—middle 20% had 15%--60% had 49%
In B the distribution was 20% had 84% of wealth-middle 20% had 4%---60% had 12%

Which would you choose?

A=Sweden
B=United States of Inequality

clarence swinney
olduglymeanhonest mad mad mad
political historian
lifeaholics of america
burlington nc
author-Lifeaholic—Life story of how to achieve success by working for a Life not just a living
Dr Norman Wiggins President Campbell University-”Every student should have this book”
clarence swinney “Darn right”