March 11th, 2011

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Too Much Wealth in a Pile

This description of massive wealth crossed my desk recently.  Notice that the wealth is sucked upwards.  The money isn't "earned" from nowhere: it is taken by the rich directly from  the middle and poor classes.  The article also suggests how the massive concentration of wealth does less good in the hands of the uber-rich than it would if spread out to cover other people's basic living expenses.


Obscene Division of Wealth

Some Wall Street types (and others) make over a billion dollars a year –
each year. How much is a billion dollars? How can you visualize an amount
of money so high? Here is one way to think about it: The median household
income in the US is around $29,000, meaning half of us make less and half
make more. If you make $29,000 a year, and don’t spend a single penny of
it, it will take you 34,482 years to save a billion dollars....
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