The 99% and the 1%:  Breaking Down Wealth Inequality

Occupy Wall Street has rippled across the country leaving a wake of activism and protest in nearly every state and wide-scale demonstrations teeming in over 20 major North American cities.[i]  The message is clear: we are the 99%.  We work the jobs, we pay the bills and we’re tired of the 1% keeping all of the profits. 

Occupy has raised a flag that boldly reads: Wealth inequality is getting worse and it will continue to increase unless we stand up, speak out and stop it.

Just how unequal are we?

The majority of wealth is held by 1% of the population (approx. 337,000 people) who earn, on average, $1,137,684 per year each.  The rest of us fight over whatever scraps are left, and on average we’re earning $31,244 per year.  That’s 2.7% of what the 1% make. [ii]

Wealth equality took a significant step backward in the first decade of the 21^st century when middle class incomes diminished by 7%.[iii]   The World Bank ranked income inequality among developing countries on a scale of 1 – 100, with 100 indicating extreme inequality.  The United States ranked just over 43 on that scale, coming in behind Canada, Europe, South Korea, Ukraine and Australia.[iv] 

How did this happen?

Bad economic policy, un-checked corporate dominance in politics and attacks on workers’ rights all contributed to our economic situation, where we’re struggling more to earn less.  The Bush Tax Cuts and similar failed conservative economic policies have left our country hurting.  These policies do not allow us to effectively increase revenue through taxes.  Corporations are preoccupied with their bottom line, and therefore are funding lobbyists and politicians to keep their money intact and pass policies that will not adversely affect profits.   

Considering 31% of America’s 1% work in an executive or top-managerial role [v] within their corporation, we can expect to see a lot of money coming from the top to hold back the 99% from getting a bigger piece of the pie.

Traditionally, the middle class has helped bridge the gap between rich and poor and keep wealth disparity in check.   The ultra-affluent, along with extreme conservatives like the Koch Brothers are funding state-level attacks on the middle class by going after unions and workers’ rights.  These attacks take the voice away from the workforce and aim to prevent the middle class from effectively maintaining our nation’s economic balance.   

Restoring Equality

We are not equally wealthy as a nation, but we can fight back and change the path that we’re on.  Get active: march, peacefully protest, handbill and picket.  Vote for politicians who stand up for the middle class and for working people; if they sell you out, hold them accountable.  Shop responsibly and transfer your money from Wall Street’s banks by using tools like http://moveyourmoneyproject.org/.

We are the 99%, and if we continue to sit by while the 1% calls the shots we will be fighting for smaller and smaller scraps of what’s leftover.  Stand up, speak out and restore wealth equality in America.

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