The Income Inequality Delusion

Ariely and Norton found that Americans think they live in a far more equal country than they in fact do. On average, those surveyed estimated that the wealthiest 20percent of Americans own 59 percent of the nation's wealth; in reality the top quintile owns around 84 percent. The respondents further estimated that the poorest 20 percent own 3.7 percent, when in reality they own 0.1percent.

And when asked to give their ideal distribution, they described, on average, a nation where the wealth distribution looks not like the U.S. but like Sweden, only more so—the wealthiest quintile would control just 32 percent of the wealth, the poorest just over 10 percent. "People dramatically underestimated the extent of wealth inequality in the U.S.," says Ariely. "And they wanted it to be even more equal."

The United States, according to this study, is a nation of people who would like to spread the wealth around. They just don't know it.

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[2Tellthetruth]

@ussseaw0lf You are correct!

[ussseaw0lf]

Who do you propose will come and make it equal. Give men the power to distribute wealth, then they will give it to themselves. Right now, the rich get rich by providing other people things they want. The rich cannot take a dime of your money without your agreement; no matter how greedy they are.

The question you both are evading is what system will make things more equitable? Socialism is not a viable alternative because it leads to dictatorship and the rich simply move abroad.

[capt251978]

Great video guys.

[theagent578]

How have we let it get this bad?

[StunnedByStupidity]

Good video. The even more shocking thing is the rich STILL HAVEN'T GOT ENOUGH! We are living in an insane asylum.

Here's another video:

'Shocking Fact About Rich Americans' on youtube

[lasku0007]

Shouldn't title be 'The Income equality Delusion'?