a.. In 1999, more than half of all estate taxes were paid by the
wealthiest one of every 700 people who died. (Center on Budget and Policy
Priorities analysis of IRS data: http://www.cbpp.org/6-3-02tax.htm)
a.. Since the mid-1970s, the most fortunate one percent of households have
doubled their share of the national wealth. They now hold more wealth than
the bottom 90 percent of the population. (NYU Economist Edward N. Wolf, Top
Heavy)
a.. In 2001, 16.3 percent of American children lived in poverty, a lower
rate than 1993 (22.7 percent), but higher than the 1973 rate of 14.4
percent. (U.S Census Bureau Current Population Survey:
http://www.census.gov/hhes/poverty/histpov/hstpov3.html/)
a.. Nearly one quarter of all workers - more than 28 million in all --
earn less than $8.78 an hour, the amount needed to lift a family of four
above the poverty line with full-time work (about $18,200 a year). (Economic
Policy Institute, The State of Working America 2002-03, p. 355)
b.. In 1998, the top 1 percent of Americans owned 47.7 percent of all
stock, while the bottom 80 percent owned 4.1 percent. Between 1989 and 1998,
nearly 35 percent of all stock market gains went to the top 1 percent of
shareholders. 64 percent of American households have stock holdings worth
$5,000 or less, or own no stock at all. (NYU Economist Edward N. Wolff,
cited by Economic Policy Institute, The State of Working America 2002-03,
pp. 286-289)
c..
Between 1995 and 1998, the total wealth of the typical American household
rose from $58,800 to $61,000. The average value of stock holdings rose
$5,500, the value of non-stock assets (mostly homes) climbed $8,500, and
household debt increased $11,800. (Economic Policy Institute)
d.. Middle-class families enjoyed 2.8 percent of the stock market gains
between 1989 and 1998, but accounted for 38.8 percent of the increase in
household debt. (Economic Policy Institute)
e.. In 2000, 63.4 percent of private sector workers had employer-provided
healthcare, down from 70.2 percent in 1979. 49.6 percent of private sector
workers have employer-provided pension plans. (Economic Policy Institute,
The State of Working America 2002-03, pp. 142-143)
f.. 60 percent of U.S. workers say that if they were laid off, their
savings are sufficient to maintain their current standard of living for a
few months or less. Only 29 percent said they are able to save for the
future. 40 percent say they earn enough to be comfortable, but not to save,
while 27 percent said they earn only enough to get by, and 3 percent said
they are unable to pay their bills. (Fleet Bank, contact Rena DeSisto,
212-703-1961)
g.. 64 percent of U.S. workers say they would rather have more time than
more money. Even in households earning less than $25,000, 49 percent said
they would still prefer time over money. (Fleet Bank)
h.. Fewer than 50,000 estates -- 2 percent of the total -- paid federal
estate taxes in 1999. (Internal Revenue Service)
i.. A study by Treasury Department economist David Joulfaian found that
eliminating the estate tax would reduce charitable bequests by about 12
percent. (United For a Fair Economy, citing Center on Budget and Policy
Priorities analysis of IRS data: http://www.cbpp.org/6-3-02tax.htm)
j.. While the top tax rate is 55 percent, on average, estate taxes
represent 19 percent of the gross value of the estate. (United For a Fair
Economy, citing 1999 Internal Revenue Service data.)
k.. Among the industrialized nations, the U.S. has the highest
concentration of individual wealth--roughly 3 times that of the No. 2
nation, Germany. (UN Human Development Report, 1998)
l.. As of 1998, the richest five percent of U.S. households held more than
59 percent of the nation's private wealth. The top 1 percent of households
held 38 percent of the wealth. (NYU Economist Edward N. Wolff, cited by
Economic Policy Institute, The State of Working America 2002-03, p. 281)
m.. Between 1983 and 1998, households in the bottom 20 percent of the
population saw their net worths decline from -$3,200 to -$8,900 in 1998
dollars. Meanwhile, the net worth of the middle fifth of the population rose
3.7 percent, and the net worth of the top 1 percent rose 30%. (NYU Economist
Edward N. Wolff, cited by Economic Policy Institute, The State of Working
America 2002-03, p. 281)
n.. In 1998, the typical black household held only 12 percent of the
wealth of the typical white household. With housing excluded, that figure
would be 3 percent. More than 27 percent of black households (and nearly15
percent of white households) have no net worth. (NYU Economist Edward N.
Wolff, cited by Economic Policy Institute, The State of Working America
2002-03, p. 284)
o.. Most Americans in the highest-earning one percent of the population
(median annual income: $330,000) don't consider themselves rich.
(Worth-Roper Starch Survey)
p.. As of 1998, 48 percent of American households owned stock either
directly or through a mutual fund or some sort of retirement plan. Over 86
percent of the value of all stocks and mutual funds, including pensions was
held by the top 10 percent of the households. (Economic Policy Institute,
The State of
q..
http://www.inequality.org/factsfr.html
---redpill.
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