Thursday, December 15, 2011

Wednesday, December 14, 2011

United States of America: Officially a Third World Country

Well, New York City, anyway:

"Independent Budget Office report on New York city income disparity.
  1. The poorest tenth (decile) of the city’s population has an average income of $988, and claim 0.1% of the city’s total income.
  2. The richest 10% of New Yorkers have 58% of total income, and the richest 5%, 49%.
  3. The average income of the poorest 30% is $6,373, on a par with Egypt and about $1,200 below China’s.
  4. The city’s median income—the level at which half the population is richer and half is poorer—is $28,213. That’s roughly the level of Greece.
  5. The average income of the top 10% (a category that begins at $105,368) is $387,259.
  6. The average income of the top 1% (a category that begins at $493,439) is $2,247,515.

How does the city’s income distribution compare with that of Brazil, a country with a worldwide reputation for stunning inequality?

  • The income of the top 20% of New Yorkers is 64 times that of the bottom 20%. In Brazil, that ratio is 17 times.
  • The income of the top 10% of New Yorkers is 582 times that of the poorest 10%. In Brazil, that ratio is 35 times."
occupyduniya.wordpress.com/2011/12/12/new-york/