Wealthy 1% Have ALWAYS Controlled USA

Clipped from www.tax.com

Figure 5: Share of wealth held by the Bottom 99% and Top 1% in the United States, 1922-2007.

Here are some dramatic facts that sum up how the wealth distribution became even more concentrated between 1983 and 2004, in good part due to the tax cuts for the wealthy and the defeat of labor unions: Of all the new financial wealth created by the American economy in that 21-year-period, fully 42% of it went to the top 1%. A whopping 94% went to the top 20%, which of course means that the bottom 80% received only 6% of all the new financial wealth generated in the United States during the '80s, '90s, and early 2000s (Wolff, 2007). Read more at www.tax.com