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'Global Oligarchy' Reigns as Top 1% Controls More Wealth Than Bottom 95% of Humanity
(www.commondreams.org)
this post was submitted on 23 Sep 2024
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1% of 8 billion is only 80 million. I wouldn't say most Americans are in the 1% when the 80 million is spread around the world.
I don't know how this keeps getting trotted out and up voted. I swear it gets dunked on every time.
Not just Americans. First world nations in general. That's about 20% of the population in there, so the top 5% of US, Europe, Japan, Australia, etc. We're talking the upper middle class. $100K pre-tax gets you there easily, and thanks to rising prices of housing, I doubt most of them feel very rich at all.
The billionaires are holding big numbers as well, and there's a few of those dotted around the world, but I'd imagine they're mostly concentrated in first world countries. If you can live anywhere, why would you live in a craphole?