The HAVES--and the have not's

Including or excluding the so called "couch potatoes", Americans take in more information than they ever have. Newscasters such as Ted Koppel, Dan Rather, Tom Brokaw, Robert McNeil, and Jim Lehrer are as well known to this generation as Walter Cronkite was to previous generations. Not only do people watch their favorite newscasters regularly, they read mountains of newspapers and magazines as well.

Because the American media claims to be the freest in the world, few have reason to suspect that their mass media information is being very carefully controlled and colored. The shocking truth is that the American public is being purposely kept in the dark about many vital realities. For example are you aware that:

THE RICHEST 1 (ONE) PERCENT OF AMERICANS possess more wealth than
THE COMBINED WEALTH OF THE BOTTOM 90 (NINETY) PERCENT.

Despite how incorrect that statistic may first appear, there is definitely no error or misprint involved. Not only that, the full significance of the above statement is rather difficult to instantly appreciate, so we'll take a moment more to consider its implications.

Because the richest 1% prefer to associate almost exclusively with members of their own social and economic standing, few members of the bottom 90% of Americans have ever even met a millionaire let alone a billionaire.

Consequently if you belong to the bottom 90%, you can think of the wealth of the richest 1% as :
more wealth than the combined assets of every American you have ever met, plus all the assets of every American you would be likely to meet on a trip that took you through every single city and town in the nation!!

If you haven't been thinking of the rich and their wealth in quite that light, I suggest you begin to, because that information is only the tip of the iceberg of information being actively suppressed by the so-called freest media on the planet. Many references will be made throughout the book to the bottom 90%, so it is appropriate that we try to define the group a little more precisely.

Since the average person in the West considers himself or herself a member of the middle class, logic as well as popular opinion would suggest that half or more of the population fits into it. Initially then, let's arbitrarily consider that American society is comprised of 60% middle class, 20% lower class, and 20% upper class. Because the combined middle and lower economic classes only account for 80% of the population, the bottom 90% of society must also include half of the so-called upper class as well!

This means that the bottom 90% is comprised of:

1) Every member of the middle class
2) Every member of the lower class
3) Half the members of the wealthy upper class

So now our original statistics can be interpreted to mean that:

If you are surprised or shocked, don't feel bad. The elite have gone out of their way to ensure that you didn't know it. Nevertheless, my initial choice of (20%, 60%, and 20%) to represent the upper, middle, and lower class population percentages was arbitrary, so if you think the arbitrary percentage breakdown of society was at fault, I welcome you to run your own idea of the class percentages through the preceding model. No matter what figures you choose, the bottom 90% of society would still have to include ALL of the lower class, plus ALL of the so called middle class, plus a portion of the upper class. The staggering significance of the wealth of the richest 1% will not alter. Go ahead and try it.

The Hidden Wealth of the Next Richest 9%

Up to this point, we have referred only to the richest 1% and the bottom 90%. However, sandwiched in between those two groups is another wealthy minority, the next richest 9% . Let's now find out how that group fares economically. You may be stunned to learn that:

THE NEXT RICHEST 9 (NINE) PERCENT also possess more wealth than THE COMBINED WEALTH OF THE BOTTOM 90 (NINETY) PERCENT

As unbelievable as it sounds, there are two minority groups, not just one, that own more assets than the bottom 90%. These two statistics alone should leave little doubt that the bulk of the wealth in America is owned by a very small minority of super rich individuals. This reality contrasts so drastically with the "equal opportunity", "equal prosperity" concepts fed to the bottom 90% and the world at large, that statistics such as these have had to be suppressed. Again, there is no misprint. The only deceit involved is that the bottom 90% have been purposely kept in the dark about wealth distribution realities.

Hidden Permanent Prosperity For The Rich

If you were unaware of the severity of wealth distribution inequities, then you are probably in for an even bigger surprise to learn that the rate, at which the economic elite are getting richer, is simply astounding.

Statistics published in Forbes magazine's annual survey of America's billionaires expose this little known but shocking reality.
In 1982 there were 13 billionaires; in 1983....15; in 1984....12; in 1985....13; in 1986....26; in 1987....49. Note carefully that prior to 1986 the number of American billionaires had averaged around 13. Then the Reagan administration drastically altered the wealth distribution patterns by introducing new tax legislation favoring the top 1%. In 1986 the number of billionaires DOUBLED, and by 1987 the number of billionaires had virtually QUADRUPLED to 49!! By 1988, there were 68 individuals or families that each had net wealth in excess of $1,000,000,000. By 1989, the number had risen precipitously to 82. And by 1990, the Forbes survey reported the staggering total of 99!! With favorable tax laws in place, the super rich can enjoy bonanza years even during recessions!! The tax laws that allowed this to happen are still in place, and will remain in place till enough people get sufficiently concerned to insist that they be changed.

Excerpted from the electronic book:
Feudalism ... Alias American Capitalism

Go to: Forbes: CEO Pay Jumped 24 Percent Last Year