How much of our wealth do the top one percent, even the top ten percent control?

[LaydeeBug]

I am coming across this guy:

http://www.multinationalmonitor.org/mm2003/03may/may03interviewswolff.html

[coalition_unwilling]

1. Awesome interview. I've read elsewhere that the top 1% control about

40% of the nation's wealth.

To put a (somewhat) human face on those statistics: the 6 heirs to the WalMart family fortune control as much wealth between them as the bottom 30 million Americans combined. And this in a nation where 16 million children experience at least one incidence of hunger (aka "food insecurity&quot per month. But a nation where a shithead like Romney enjoys support north of 40%.

[JackRiddler]

3. Now double that in terms of power.

It's not just about dollars, but about what they measure. For the bottom 80%, most of the wealth consists of their homes.

Power comes from investable, liquid and productive wealth. A small group who own banks or large corporation or development projects have independent economic power, a large group who own their own houses are dependent. One household with a billion is far more powerful and free to make decisions about how capital is invested and therefore how a society develops than ten thousand households with a billion (100,000 each). Also, to decide which politicians are funded are which regulators get rich after they leave public service. In that balance, the billionaire is in charge.

[sharkman25]

2. The term 'our' is somewhat subjective. How broad are you applying it?

By "our" do you mean us as individuals or as a nation?

[LaydeeBug]

4. as a nation. nt