The One Percent
There is a growing wealth gap within the United States of America. But until you watch The One Percent, it’s challenging to understand how big the gap is.
If you’re wondering what this “One Percent” is, essentially it’s the wealthiest people in America. These few control a HUGE amount of the country’s wealth. The top 1% of households owned over 35% of all privately held wealth (as of 2010). Only 10% of the wealth in America is left to share between the bottom 80%. Many more stats can be found here.
But where do they get the money? The richest 1% earn roughly half their income from wages and salaries, a quarter from self-employment and business income, and the remainder from interest, dividends, capital gains and rent. (See more about this from The Economist).
This film, The One Percent, was actually made by heir to the Johnson & Johnson fortune: 27-year-old Jamie Johnson.
Jamie explores the political, moral and emotional rationale that enables a tiny percentage of Americans – the one percent – to control nearly HALF the wealth of the entire United States.
It includes interviews with Nicole Buffett, Bill Gates Sr., Adnan Khashoggi, Milton Friedman, Robert Reich, Ralph Nader and others.
Before this film, Johnson made an Emmy-nominated HBO documentary called Born Rich.
The full 80-minute documentary, The One Percent, is available below.