Video Showing the Huge Gap Between Super Rich and Everyone Else Goes Viral

Actual wealth gap explainedDaily Finance – by Bruce Watson

For much of the past decade, policymakers and analysts have decried America’s incredibly low savings rate, noting that U.S. households save a fraction of the money of the rest of the world. Citing a myriad of causes — from cheap credit to exploitative bank practices — they’ve noted that the average family puts away less than 4 percent of its income.

“Wealth Inequality in America,” a six-minute video produced by a YouTube user named “Politizane,” casts an interesting angle on the plummeting savings rate. Set to depressing piano music and packed with crystal-clear animations, it gives a powerful snapshot of the American economic landscape. Noting that “The top 1 percent own nearly half the country’s stocks, bonds, and mutual funds,” the video goes on to contrast those impressive holdings with the rest of the country. By comparison, it points out, the bottom 50 percent of earners own only 0.5 percent of those investments.

It isn’t hard to see why there is such a yawning gap between the richest Americans and the rest of us. Since 1976, the share of national income earned by the top one percent of workers has nearly tripled, from 9 percent to 24 percent. It’s not hard to see why their share has increased: As Clinton administration Labor Secretary Robert Reichrecently pointed out, the economy has roughly doubled in size over the last 30 years — and, in an ideal world, more money in the economy should mean more money in everyone’s pocket.

But the distribution of this huge economic bonanza has been startlingly uneven. While the earnings of the top 1 percent have tripled, the average household income has effectively stagnated. Put another way, there’s a reason Americans haven’t saved: they haven’t had much money to save.

In terms of information, Politizane’s video isn’t offering anything new: Its analysis of American perceptions of wealth distribution, the line between rich and poor and the issue of America’s wealth continuum echo stories that have been in the media for years. But there’s something about seeing the country’s wealth gap in easy-to-follow animations that allows the dry analysis to hit home. Or, as the video puts it, these illustrations make it easier for viewers to “wake up and realize that the reality in this country is not at all what we think it is.”

Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971

http://www.dailyfinance.com/on/Wealth-Inequality-in-America-viral-video-Politizane/

10 thoughts on “Video Showing the Huge Gap Between Super Rich and Everyone Else Goes Viral

  1. how did they get that wealth? by graft and theft from us. knockout bailouts, swindles, backroom deals and unregulated insider jackpots. the criminals are those who have the lack of conscience to lie all it takes, to get what they want, and who have the connections to get away with it.

    1. Got that right.
      Anyone seen the 2013 Forbes List? Guess who made an extra 5 Billion last year? Bloomie is now the 13th wealthiest person in the world (which he isn’t pleased about. He says the #s aren’t accurate and he shouldn’t be that far down, at 27 Billion)

  2. i think it was Mark Twain that once said, “you show me a rich man, and i’ll show you a criminal.”

  3. So sad and so true. Wake up America! Hello, US MILITARY!!! WHERE ARE YOU??? When are you going to arrest the treasonous government??? You have the power, ability and authority by the Constitution to end this, PERMANENTLY!!! DO YOUR DAMN JOB AND DUTY, DAMMIT!!! Must be no brave men in the military anymore. Only cowards. So sad.

  4. Charlie Sheen was making 1.2 million a week! Why is Hollywood paid so damn much and given so many tax breaks?

    Kim Kardashian was paid 22 million to have a baby. The dumb broad isn’t even that cute.

    1. 22 Million for a baby???? OMG! Maybe I should have married the dumbest woman on Earth and gotten 22 million, too. Might have been a good investment as long as I could invest in a muzzle to keep her from opening her dumb mouth.

  5. A vast redistribution of wealth has been and is underway, and much of it through vast swindles. Surely this video is shocking to everyone; if this trend continues, at some point even the slowest of us will realize something’s terribly wrong.

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