I heard that in the UK, 1% of the population holds 99% of the wealth - is this true, and are there any studies and/or statistics to back this up? Thanks!
2006-10-21 04:35:58 · 5 answers · asked by davidbrookesuk 3 in Society & Culture ➔ Other - Society & Culture
Though your statistics may be a bit exaggerated, nevertheless the ownership distribution of wealth is EXTREMELY unbalanced, and what's more, the gap is widening. The question that arises is, how is it possible in a democracy for people to vote for such an unjust society? This is how you know that democracy has been hijacked? Anyway, you brought in a good point.
2006-10-21 04:48:23 · answer #1 · answered by peace m 5 · 0⤊ 0⤋
The Figure is:
At the end of the twentieth century, wealth is concentrated among the G8 and Western industrialized nations, along with several Asian nations. In the United States at the end of 2001, 10% of the population owned 71% of the wealth, and the top 1% controlled 38%. On the other hand, the bottom 40% owned less than 1% of the total wealth.
Due to progressive taxation, in 2003, the top 1% paid over 34% of the nation's federal income tax, while the wealthiest 10% bore 66% of the total tax load. The trend continues down the income scale to where 25% of income earners paid 84% of the income taxes, and the upper half accounted for virtually the entire revenue (nearly 97 percent).
Despite this, the distribution has been changing quite rapidly in the direction of greater concentration of wealth.
2006-10-21 04:50:44 · answer #2 · answered by Gazpode55 4 · 0⤊ 0⤋
This is true almost worldwide. It's a shame. I would like some of that wealth for myself...
2006-10-21 04:37:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is 4% in the US I am sure the UK is similar.
2006-10-21 04:38:06 · answer #4 · answered by landerscott 4 · 0⤊ 0⤋
Are you controlled? Does the Vatican control you? Does the US military control you? Who is in control of the money you have earned/acquired?
2016-05-22 07:40:41 · answer #5 · answered by ? 4 · 0⤊ 0⤋