I was surprised that the cutoff point for being a 1%er was so low! I think most of us assumed that to be in the 1% club you had to be at least a millionaire, not a "hundred thousandaire."
If only they limited themselves to houses. Much of their spending benefits workers in other countries. And even with houses, how scrupulous are they to make sure the labor isn't illegal immigrants?
Enough Americans would be willing to pick produce if the farmers paid what is regarded as a living wage in America. Some sort of minimum wage enforcement for farm workers tied with some enforcement to make sure minimum work conditions were maintained would bring Americans into the produce picking workforce. I can't blame Americans for not wanting to pick produce under the conditions undocumenteds from south of the border work under.
If someone wants an avocado to make some guacamole, what option would they have? If it were to involve fresh vegetables, it might mean buying avocados grown and picked by Mexicans IN Mexico clearly marked "Produce Imported From Mexico," keeping the price down and inviting Mexicans not to cross the border.
You still haven't mastered the art of clicking on the Reply link in the post you want to reply to? This reply of yours is actually a reply to yourself not to my post about why so few Americans want to pick fruit and vegetables.
I suspect the people who came up with the 99%/1% split as a bit of demagoguery wanted to go after multimillionaires but found that trying to say 99.9%/0.1% (or whatever the correct proportion is; I figure I can't be too far off!) was just too cumbersome.
I personally had ONE year in the top 1% as the result of a windfall, never to be repeated; the tax bill alone was more than I had made any other year of my life. Counting that year and the year before it I've bounced all over that chart from then until now, including a year of being bottom 10%..
This is a crazy statistic:
78 percent of NFL players are bankrupt or facing serious financial stress within two years of ending their playing careers and that 60percent of NBA players are broke within five years of retiring from the game
Many people do not know how to handle large amounts of money prudently. The same sort of thing happens to lottery winners as well.
There's some anecdotal evidence (see #4) that chronically poor people have a tendency to think of spending the money before it disappears. (I've seen the behaviors described in the linked article personally as well.)
There was just an item on a national news broadcast which linked life expectancy to income. The upper income levels have the highest life expectancies, probably, according to the item, due to the greater access to doctors and quality health care.
The disparity n income levels is widening, not narrowing.