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Appendix F: Concentration of Wealth

Submitted by on 28/05/2012 – 09:02No Comment

In 2006, the top 0.01% averaged 976 times more income than America’s bottom 90%. At the same time, people earning more than a million dollars paid just 23% of their income in federal tax. 1% of the world population own 40% of the global assets. The richest 2% of the world population own more than 51% of the world’s assets, while the richest 10% own 85%.

At the same time, 50% of the world population own less than 1% of the world’s assets. On a global scale, the so-called established wealthy (people who own over $5 million in net assets), representing 0.1% of global households, have increased their ownership of all private wealth from 19% in 2008 to 21% in 2010. The highest wealth concentrations are found in the Middle East, Africa and North America. Similarly, the top 1% of households in these countries accounts for 70 to 90% of all their respective countries’ private financial and real-estate ownership.

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This appendix looks in detail at the related issues of poverty and the concentration of wealth, worldwide.

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