The richest 1 percent of the country now owns more than 40 percent of the wealth and takes home nearly a quarter of national income. Evidence based on tax returns indicates that this superelite 1 percent consists of nonfinancial executives, financial professionals, and members of the legal, real estate, and medical professions. Earnings at this level correlate with deregulation and the other legal changes that brought on the financial crisis. While the 99 percent deal with the direct consequences of that crisis, the 1 percent increasingly have left behind deteriorating neighborhoods in favor of wealthy enclaves, further isolating themselves, according to a 2011 Stanford University study.
Censored News Cluster: From “Bankster Bailout” to “Blessed Unrest”: News We Can Use to Create a US Economy for the 99 Percent
Mike Konczal, “Who Are the 1 Percent and What Do They Do for a Living?,” Rortybomb, October 17, 2011, http://rortybomb.wordpress.com/2011/10/14/who-are-the-1-and-what-do-they-do-for-a-living.
Student Researcher: Nicole Trupiano (Sonoma State University)
Faculty Evaluator: Peter Phillips (Sonoma State University)