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Posted by Berrett-Koehler Staff.
Connecting people and ideas to create a world that works for all!
Additional Resources for 99 to 1 by Chuck Collins
The 1 percent has 35.6 percent of all private wealth, more than the bottom 95 percent combined.
The 400 wealthiest individuals on the Forbes 400 list have more wealth than the bottom 150 million Americans.
In 2010, 25 of the 100 largest U.S. companies paid their CEO more than they paid in U.S. taxes. This is largely because corporations in the global 1 percent use off shore tax havens to dodge their U.S. taxes.
Between 1983 and 2009, over 40 percent of all wealth gains flowed to the 1 percent and 82 percent of wealth gains went to the top 5 percent. The bottom 60 percent lost wealth over this same period.
The world's 1 percent, almost entirely billionaires, own $42.7 trillion dollars, more than the bottom 3 billion residents of earth.
Between 2001 and 2010, the United States borrowed over $1 trillion to give wealthy taxpayers with incomes over $250,000 substantial tax breaks, including the 2001 Bush era tax cuts.
The 99 percent has seen their national share of income decline from 91 percent in 1976 to 79 percent in 2010. The share of wealth owned by the bottom 90 percent declined from 19.1 percent in 1962 to 12.8 percent in 2009.
The median net worth of white households in 2009 was $113,149, over 20 times the median net worth of African American households ($5,677) and 18 times that of Hispanic households ($6,325).
In 2010, average CEO pay for an S&P 500 company was $10.8 million, a 27 percent increase over 2009. The gap between CEO and average U.S. worker pay is 325 to 1, up from 42 to 1 in 1980.
The corporate 1 percent dominates the lobbying for federal and state policies. In the last 30 years, the ranks of official lobbyists have exploded. In 1970, there were 5 registered lobbyists for every one of the 535 members of Congress. Today there are 22 lobbyists for every member.
99 to 1: How Wealth Inequality Is Wrecking the World and What We Can Do about It
By Chuck Collins
978-1-60994-592-3; $14.95; 144 pages