Shocking Video Shows the Extent of U.S. Wealth Inequality. Get a Reality Check on the Economy!

• Report rights infringement
• published: 03 Mar 2013
• views: 102424

READ the Transcript of this VIDEO in the description below Evan Klassen on The Mission To Inspire Entrepreneurs and Entertain the World w Music Facebook https://www.facebook.com/EvanKlassenVIP Twitter https://twitter.com/EvanKlassenVIP https://www.evanklassen.com Transcription of this video there's a chart I saw recently that i can't get out of my head a Harvard business professor and economist passed more than five thousand americans how they thought well was distributed in the united states this is what they said they thought it was dividing the country fireproof groups at the top bottom and middle three twenty percent groups they asked people how they thought the wealth in this country was divide any ask them what they thought was the ideal distribution in ninety two percent that's at least nine out of ten of them said it should be more like this in other words more equitable than they think it is now that practice telling admittedly the notion that most americans know that the system is already skewed unfairly to what's most interesting to me is the reality compared to our perception the ideal is is far removed from our perception of reality as the actual distribution is from what we think exists in this country ignore the ideal for a moment she was really think it is again and hear is the actual distribution shockingly scheme not only to the bottom twenty percent and the next twenty percent the bottom forty percent of americans barely have any of the twelfth i mean it's hard to even see them on the chart but the top one percent has more of the country's wealth then nine out of ten americans believe the entire top twenty percent should have mind-blowing but let's look at it another way because my father struck kind of difficult to wrap my head around instead let's reduce the three hundred eleven million americans to just a representative one hundred people make it simple here they are teachers coaches firefighters construction workers engineers doctors lawyers some investment bankers to c_e_o_ media celebrities mellissa line them up according to their wealth poorest people on the left wealthiest on the right justice steady wrote folks based on their networks will color code them like we did before based on which twenty percent quintile they fall into now let's reduce the total wealth of the united states which was roughly fifty four trillion dollars in two thousand nine to this symbolic pile of cash sisters among our own s wells pure socialism all the wealth of the country distributed equally we all know that won't work we need to encourage people to work and work hard to achieve that goal american dream and keep our country moving forward here's that might be your cast point about something like this occurs this isn't too bad we've got some incentive as the wealthiest folks are now about ten to twenty times better off in the poorest americans but hey even the poor folks aren't actually poor since the poverty line has stayed almost entirely off the chart we have a super helping middle-class but this man transition into wealth and yes republicans and democrats alike chose this curve nine out of ten people ninety percent said this was a nice ideal distribution of america's well but let's move on this is what people think america's wealth distribution actually looks like thought as equitable clearly but for me even this still looks pretty great yes the poorest twenty to thirty percent are starting to suffer quite a lot compared to the ideal and the middle class is certainly struggling more than they were while the rich in wealthier making roughly a hundred times that of the poorest americans in about ten times that of the still healthy middle class sadly this isn't even close to the reality here is the actual distribution of wealth in america the poorest americans don't even register they're down to pocket change in the middle class is barely distinguishable from the poor in fact even the rich between the top ten and twenty percent i'll are worse off all the talk in person are better off and how much better off so much better off at the top two two five percent are actually off the chart this scale and the top of one percent this guy what his stack of money stretches ten times higher than we can show dishes stack of cash respect all by itself this is the top one percent we've been hearing so much about so much green in his pockets that i have to give him a whole new column of his own because he won't fit on my chart one percent of america has forty percent of all the nations well the bottom eighty percent eight out of every ten people or eighty out of these hundred only has seven percent between them and this only gotten worse in the last thats the max YouTube allowed