Source: Federal Reserve

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[–] 8 points 1 year ago (3 children)

How many people are in each category?

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  • [–] 8 points 1 year ago

    Multiply the population by the percentage? (I didn't find anything on that page suggesting that it wouldn't be the case.)

    342 million * 0.5 = 171 million people who are in the bottom yellow line. The top darker green line is 342 million * 0.001 = 342 thousand people

    I think you can do the others yourself if you like.

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  • [–] 8 points 1 year ago

    Capitalism working as intended. But it's not finished yet. Get back to work peasants.

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  • [–] 42 points 1 year ago (9 children)

    The weirdly comforting thing here is that more than half of the wealth is still in the bottom 99%. That means the masses still have economic power. The problem, of course, is that they cannot deploy it with the same coordination as the smaller group.

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  • [–] 13 points 1 year ago (2 children)

    I don't think it's comforting at all.

    If you remove the top 1%, the remaining wealth is concentrated in the top 10%. This group of people is highly invested in the status quo; their wealth and power is usually used to prop up the current system.

    These people are reffered to by many names: petit bourgeoisie, professional managerial class, small business tyrants, etc.

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  • [–] 5 points 1 year ago (4 children)

    Power that can't be deployed is by definition not power at all though, right?

    Odd observation

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  • [–] 3 points 1 year ago (3 children)

    Yes, but "the masses" are able to deploy concerted power, like in the instance of the harm done to Tesla sales lately. It's just more difficult to coordinate it.

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  • [–] 2 points 1 year ago (2 children)

    Oh good, our dollars can go to another massive corporation that will do the exact same thing. Sometimes choice really isn't choice at all.

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  • [–] 2 points 1 year ago (1 child)

    Eh. If you're just not buying any new car, you've already paid off the one you have, then that is a choice - and no corporation is getting any more money from you as a result of it. But I feel the pain of what you're saying. The case you're describing really rears its head for things like groceries where you actually do need to just keep buying them forever, and you may not have a farmer's market around. But I think people could truly cut down on their car consumption a lot. Some Americans are getting new cars every three years or so.

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  • [–] 2 points 1 year ago

    Totally agree, I have never purchased a new car and probably never will. We try to car pool whenever possible as well. If public transportation was better I would consider using it more often.

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  • [–] 20 points 1 year ago* (6 children)

    These are federal statistics. I wouldn't trust those, especially not since Trump tries his best to skim and remove anything he doesn't like.

    The reality is way worse. The 1% holds far more than the graph shows.

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  • [–] 20 points 1 year ago (5 children)

    The top 1% owns about 30% of the wealth, and the top 10% owns about 67% according to this graph. That doesn't seem too far fetched, I wouldn't assume absolutely every statistic has been manipulated quite yet.

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  • [–] 2 points 1 year ago (3 children)

    every statistic has been manipulated quite yet.

    True, but do you trust any data from the untrustworthy?

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  • [–] 6 points 1 year ago (2 children)

    I mean, kind of. It was only 3 weeks ago that trump fired the head of the BLS because of the employment numbers making him look bad, clearly he hasn't gone through all the agencies yet to make all their numbers meaningless.

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  • [–] -1 points 1 year ago (1 child)

    You don't think the chilling effect has already taken hold? Anyone who likes job security over integrity is already compromised.

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  • [–] 4 points 1 year ago

    A lot of the employees are just doing their jobs and don't really care who is in charge. If they haven't already been fired and replaced, then there's a pretty good chance they won't be.

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  • [–] 6 points 1 year ago (1 child)

    How is wealth defined? If debt is included then a lot of people are below zero even with good incomes.

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  • [–] 4 points 1 year ago

    Compost the rich

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