The L-Curve graph represents income, not wealth
If we divided the income of the US into thirds, we find that the top ten percent of the population gets a third, the next thirty percent gets another third, and the bottom sixty percent get the last third. If we divide the wealth of the US into thirds, we find that the top one percent own a third, the next nine percent own another third, and the bottom ninety percent claim the rest. (Actually, these percentages, true a decade ago, are now out of date. The top one percent are now estimated to own between forty and fifty percent of the nation’s wealth, more than the combined wealth of the bottom 95%.)
Bravo Ed! I’m impressed how thoroughly the 1% has duped the overwhelming majority. Glacially a basic grasp of some essentials is rising to consciousness. People like Catherine are so critically important to this task, but so are each of us. We individuals must proslytize (sp?) to the best of our abilities, encouraging others to do so also. Exponential function anyone?
We have access – so far – to this incredible tool, the internet, to assist toward our goal. Do not give up or give in.