Why is it that in America, the richest 1% own about one-third of the total wealth?

Answer 1

The idea that they earn the most because they are essential to their company is ludicrous. Now one, in a capitalistic society is essential for anything.

The idea that they earn the most because they are hard workers is a very good illusion to hold from their perspective. Working hard will benefit the rich more than the individual working.

The best reason I have read for this occurrence is that they make so much more because they pay themselves much more. Out of all the benefits of being the man of the company, this one is probably the best.

Answer 2

It is because capitalism doesn't work well long term without rules of the game that create a level playing field. The holy grail of Supply and Demand was NOT brought down from the mountain with Moses. Supply and demand does not work well at the low end of the curve or at the high end of the curve without stringent rules of the game. Without stringent rules, the rich get richer and the poor get poorer because uncontrolled forces of supply and demand dictate that it will occur that way. The government is the only institution that has the power to properly regulate and set stringent rules of the game. But, it is corrupted by special interests (the wealthy), interested in dissolving as many of the rules of the game as possible. The special interests give money to politicians to support their ideas for deleting any effective rules of the economic game while pretending to make rules -- to fool the public. The public in total is too dumb to figure this out or understand these simple concepts. So, the wealth in the country continues to be further polarized.

Answer 3

In every generation there are people who through luck work and inspiration make a huge amount of money. If they invest the money it grows from collecting interest, dividends, rents, etc.so much of it is past on to descendants, providing income for them. This causes the wealth to be much more concentrated at the top than income, and income much more concentrated that earned income. An example is John Kerry's wife who is on the list of the wealthiest people in America, with one of the largest incomes, although she earns nothing by working. It is not just America it is world wide and throughout history.

Answer 4

The world over the figure is 1% owning 80% of the wealth.That one percent are the ones that were rich to begin with and they stay that way by getting rich off other peoples backs and greasing government palms among other things.

Answer 5

I think this is a normal result of capitalism. It is neither good or bad. As long as there is a sizable middleclass sharing in the wealth I see no problem.

Answer 6

http://usgovinfo.about.com/od/incometaxandtheirs/a/whopaysmost.htm

The top 1% of wage earners pay 33.7% of total Federal Income Tax.

Answer 7

Those people are willing to take the extra work, risk, and challenge of being entrepreneurs or business leaders. Most people are satisfied with working for somebody and that is why they are not wealthy. Most people don't get wealthy from a 9-5 job, it happens but it is not the norm. Therefore only 1% of us are super achievers

Answer 8

Because they earned it! For the most part, most wealthy people don't start out wealthy, but come from middle class or poor homes.

Those 1% earned it through starting new businesses, obtaining advanced educations, making smart decisions, and working their butts off.

Answer 9

The basic rule of money goes to money.

http://www.handlethetruth.net

Answer 10

Those 1% have produced so much that it makes all of us more wealthy. Even the poorest among us.
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