mohandasgandhi:

STUNNING Facts On Income Inequality and Bank Bonuses

Stunning facts about bank bonuses on Wall Street, average compensation and homeless kids are shared by The Young Turks host Cenk Uygur.

From ThinkProgress:

In the United States, the top 1 percent controls roughly 40 percent of the nation’s wealth. According to the study, which examined Roman ledgers, previous estimates, imperial edicts, and Biblical passages, Rome’s top 1 percent controlled less than half that at the height of its economic power, as Tim De Chant notes at Per Square Mile:

Their target was the state of the economy when the empire was at its population zenith, around 150 C.E. Schiedel and Friesen estimate that the top 1 percent of Roman society controlled 16 percent of the wealth, less than half of what America’s top 1 percent control.

Of course, the millions of Romans at the bottom of the empire’s class structure — the conquered and enslaved, the poorest Romans, and the women who had little civic or economic empowerment — would probably disagree with the study’s conclusion. Still, it serves as yet another highlight of how large the income gap in the United States has become over the last three decades.

Still, it’s unbelievable that the wealth of the bottom 60% in the U.S. is less than the Forbes 400 richest and that the 6 heirs to the Walmart franchise have the combined wealth equal to the bottom 30% in this country. Give the bankers their record bonuses anyway. They’re doing a fantastic job.