The richest 2% of adults in the world own more than half of all household wealth,
according to a new study by a United Nations research institute..
.. the poorer half of the world's population own barely 1% of global wealth.
The US is basically just the same. If the population was just 100 people and the wealth of the nation was $100:
- 1 person gets $38.10
- 4 people get $5.32 each
- 5 people get $2.30 each
- 10 people get $1.25 each
- 20 people get $0.60 each
- 20 people get $0.23 each
- 40 people get $0.005 cent each
Considering that the US poverty rate hovers around 12%, that means that somewhere between $0.005 and $0.23 is the poverty line. That means $0.23 is probably a very livable "wage".. yet it is about HALF of ONE percent of the top wealth holder at $38.10.. okay, the numbers are getting a little foggy and abstract now.
Heading on over to the tax side of things and you'll find that
The "rich" do pay a lot of taxes. The top 1% pay about 30% of all taxes, the top 5% pay about 50% of all taxes, and the top 50% pay about 98% of all taxes.
That being said, according to the site
globalrichlist.com, even making the $5.15 minimum wage annual income of ~$10,100 puts you in the richest 14% in the world.. Then again that probably doesn't take cost of living into account. You need $47,500 a year to crack the top 1% (in the world).