Thursday, 24 October 2013

Upward Socio-Economic Mobility is Near Impossible in the 'Land of the Free'

1% of the population of the USA own 40% of the wealth (54 trillion dollars in 2009 being the total wealth). The following video demonstrates that the middle class are barely distinguishable from the poor in terms of their share of the socio-economic Apple Pie.

In Sweden, an average CEO earns 89 times that of the average worker...the UK 84 times as much...Portugal 53 times as much...Germany is 147 times as much.

In the US it is a staggering 354 times times more than that of the average worker's earnings. 

Four out of the five highest-paid executives in S&P 500 companies all work at Apple. Bob Mansfield, who runs Apple's hardware engineering group earned €65.54m, while legal head Bruce Sewell was paid an annual salary of €52.9m. Senior Apple executives Jeffrey Williams and Peter Oppenheimer both earned about €52m each for a year's work. Many of the 1% wealthiest in the USA pay as little as 15% tax, while the lowest income workers pay one third of what they earn in taxes.

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