Jan 06, 2012 5:04 AM GMT
Question - if Americans have been benefiting disproportionately in the last few decades, then should the UN tax Americans and redistribute it as well given that the inequality according to liberals results in instability and is "unfair"?
When I read these numbers I was stunned. I had no idea that Americans make up fully one half of the world's richest 1%.
When you look at the world's population as a whole, it only takes $34,000 a year per person - after taxes - to be part of the world's richest one percent. A family of four with after tax income of $136,000 would be among the world's richest.
60 million people make up the world's richest one percent. And, according to world bank economist Branko Milanovic, half of them - or 29 million people - lived in the United States as of 2005.
Another 4 million live in Germany. And the rest are scattered throughout Europe, Latin America and parts of Asia.
None of the world's richest 1% live in Africa, China or India - statistically speaking.
Although places like China and India are seeing economic growth, and people there are getting richer, they're starting from a very low base. This also means the emerging middle class in these countries isn't the same as the middle class in developed nations. No cars. No retirement plans. They don't own their own homes.
Milanovic says people in the world's true middle live on around $1,200 a year.
Which means even the poorest 5% of Americans are richer than two-thirds of the entire world. Something to think about.
While the Occupy Wall Street movement targets the so-called 1% with protests in New York, Los Angeles, Denver and Washington.
These numbers give one percent a whole new meaning.
Here’s my question to you: What does it mean when Americans make up half of the world's richest 1%?