“The money power preys upon the nation in times of peace and conspires against it in times of adversity. I see in the near future a crisis approaching that causes me to tremble for the safety of my country. The money power of the country will endeavor to work upon the people, until the wealth is aggregated in a few hands, and the republic is destroyed.”
- On average, the richest 400 Americans saw their wealth go up by an astounding $500 million each in only one year (2012) -- a bad year, no less, for the economy.
- Just this one year's increase in wealth for the richest 400 is enough to hire approximately 5 million entry level teachers!
- All totaled, the 400 richest Americans have the same amount of wealth as approximately 25.5 million middle class families in the center of the wealth distribution.
- This is the new math of plutocracy: 400 super-rich = 25.5 million middle class.
- The median family -- that family exactly at the mid-point of the wealth ladder --- saw its net worth collapse. In 2005, the median family's wealth was valued at $102,844 (in inflation adjusted dollars.) By 2011, the latest Census figures showed a drop of 35 percent to $66,740.
The CEO of an S&P 500 Index company made, on average, 380 times the average wages of U.S. workers in 2011.
McDonald’s $8.25 Man and $8.75 Million CEO Shows Pay Gap
By Leslie Patton - Dec 12, 2012 12:00 AM ET Bloomberg
Johnson isn’t one of Chicago’s many homeless people who seek shelter in fast-food joints. He’s a McDonald’s employee, at both stores -- one in the Loop, the other about a mile away in the shadow of Holy Name Cathedral.