Richest 2% own over half of world's wealth

[varun]

http://us.rediff.com/money/2006/dec/05rich.htm?q=bp&file=.htm

Dharam Shourie in New York | December 05, 2006 20:03 IST


The richest two per cent of adults in the world own more than half of global household wealth, according to a study released on Tuesday.

In 2000 the richest one per cent of adults owned 40 per cent of global wealth, a report by the Helsinki-based World Institute for Development Economics Research of the United Nations University said...

...A small number of countries, the study finds, account for most of the wealthiest 10 per cent in the world. While Americans account for 25 per cent of the wealthiest, 20 per cent are Japanese.

These two countries feature even more strongly among the richest one per cent of individuals in the world, with 37 per cent residing in the USA and 27 per cent in Japan.

[aquart]

1. Guilotine.

[ThomCat]

2. It's been class warfare for quite a long time now.

It's time we started fighting back. x(

[partylessinOhio]

3. What are those 2% doing to better the world?

[napi21]

4. This is the group who keep saying THE ECONOMY IS GREAT!

TS for everyone else! I know I sure havne't seen it!

[nomo]

5. That's why we call them rich.

But myabe "filty rich" is more appropriate.

[Raster]

6. And getting filthier rich by the moment. There is us and them. They are

strip mining us for our substance. The super wealthy are motivated ONLY by accumulating more wealth.

[harlinchi]

7. I wouldn't mind them being 'filthy rich' so much if only I could...

...get slightly soiled! Right now I'm pretty much squeaky clean!

[Raster]

8. Aren't we all...the majority of Americans are "feeling the pinch."

The ol' American Dream meme just isn't pulling in the rubes it once did.

[Zensea]

9. A LOT of Americans are in this category.

Check this site.
http://www.globalrichlist.com/index.php

It shows where your household income rates relative to the world.
For example,if your household income is $70,000 then you are in the top 0.85% in the world, if your household income is $50,000 then you are in the top 0.98% in the world, if your household income is $45,000 then you are in the top 1.72% in the world, if your household income is more than around $44,000 you are in the top 2% in the world (the figure cited in the original post),if your household income is $40,000 then you are in the top 3.17% in the world and if your household income is $30,000 then you are in the top 7.16% in the world.
To give an additional sense of this in relation to America itself here is a useful link http://en.wikipedia.org/wiki/Household_income_in_the_United_States

In the year 2005, there were approximately 113,146,000 households in the United States. 15.73% of all households had annual incomes exceeding $100,000,<5> while another 12.7% fell below the federal poverty threshold.<6> While the aggregate income distribution tends to tilt towards the top with the top 6.37% earning roughly one third of all income, it is important to note that the those with upper-middle incomes controlled an even greater share of the total earned income.<7> Households with moderately high middle class incomes ranging from $50,000 to $100,000 a year, represented 29.2% of all households , yet earned a far greater share (c.a. 40%) of all income.<5>

[stillcool]

10. I am just now reading a book...

titled "The Rich and the Super-Rich Copyright 1968..by Ferdinand Lundberg. In it he illustrates the disproportion of wealth, how that translates to power, and how those precious few hang on, through various tax exemptions. He also touches on the ownership and usefulness of the 'media', and how it's consistent false-hoods become our national identity and treasure. I just started it, but like so much written at that time it is not only pertinent today, but narrated in a refreshingly clear manner.