16 Oct 2011

Stop hating the top 1%

It's really not fair to characterise the current social and economic inequalities based on the top 1% vs. bottom 99% income earners.

According to MotherJones, this is who are in the top 1% income bracket in the US: They are overwhelmingly not Wall Street fat cats...

The really startling, exponential inequality becomes apparent as you go closer to the very - the top 0.01% and beyond. This too is from MotherJones.

Research it... In the US, there are some 400 billionaires - compare their wealth to the nation's GDP. In India, the 100 richest individuals (and their immediate family members) account for nearly 25% of the country's GDP - and that too in fully accounted-for wealth alone! In Russia, the wealth to GDP ratio is even more skewed. Now imagine the clout they wield over the entire system.

I assume this trend holds true for almost every nation - yes, every nation - regardless of its purported ideological leaning!

So please open your eyes and STOP blaming the top 1% income earners.

Stop hating a number. Start looking for names.

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