Thursday, April 14, 2011

Who are the rich and do they need tax breaks?

In today's america, 1% of the population owns 42% of the wealth. What does that really mean? Well, lets look at some numbers.

There are 311,167,353 Americans today. So 1% of that is 3,111,673 Americans.

At the end of 2010, Americans owned $56.8 trillion in wealth. A trillion is one million million, 42% of that is 23.4 trillion. So if 3 million Americans owned 23.4 trillion dollars of wealth, thats an average of about 8 million a piece. Not bad huh?

So what does that leave for the rest of us? About 33 trillion. For about 308 million Americans. That averages out to about 0.1 million, or 100 thousand dollars.

8 million v. 100 thousand.

Who do YOU think we should tax?? I'll give you a hint... letting those with the most money, those who are getting the most benefit from our society NOT pay taxes is a *great* way to "go broke."

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