1968 and Today: Stats to Shock

THEN AND NOW – how the stats tell a shocking story

Fifty years since Martin Luther King Jr. called for an Economic Bill of Rights, how do stats today compare with 1968? 

Is Dr. King’s Economic Bill of Rights needed even more now than in 1968?

Fifty years on, the USA is more unequal than in 1968 with greater levels of poverty, incarceration and war spending.

Fifty years on, the richest 85 people across the globe share a combined wealth of £1tn, as much as the poorest 3.5 billion of the world’s population.

Fifty years on, 69 out of the world’s top 100 economies are corporations.

Fifty years on, the facts speak for themselves – as a global family, we are worse off now than in 1968.  This has not happened by accident, but through 4 decades of neoliberal policy implementation designed to benefit the few at the expense of the many. ‘Trickle down’ has not worked. ‘Trickle up’ has.

King’s awareness of the forces of global capital and the need for civil society to come together in the fight for different economic, social and political models is as relevant and urgent as it was in 1968.

King speaking in 1967 said

 ‘It is estimated that the USA spends $322,000 for every person we kill in Vietnam, while we spend $53 per person classed as poor, in the ‘War on Poverty’ (LBJ’s campaign).

Fifty years on from King’s call for an Economic Bill of Rights, we need to finish what he started.

THEN AND NOW

TAXATION  USA

1968 Top Federal Tax Rates

Top Rate on Regular Income: 75.25%

Top Rate on Capital Gains: 26.9%

Top Rate on Corporate Tax: 52.8%

2015 Top Federal Tax Rates

Top Rate on Regular Income: 39.6%

Top Rate on Capital Gains: 25%

Top Rate on Corporate Tax: 35%

HOME OWNERSHIP USA

1968    63.9%                     2014    65%

https://en.wikipedia.org/wiki/Home-ownership_in_the_United_States

Black homeowners are not better off today than they were four decades ago. In terms of homeownership exits, they are worse off now.  http://www.citylab.com/housing/2014/07/black-homeowners-are-worse-off-today-than-they-were-40-years-ago/374824/

2015   73% percent of whites own a home, compared to 47% of Latinos and 45% of blacks.

http://www.forbes.com/sites/laurashin/2015/03/26/the-racial-wealth-gap-why-a-typical-white-household-has-16-times-the-wealth-of-a-black-one/#7e0c90ce6c5b

POVERTY USA

1968 13%                            2011 15%

1968 25m                           2011 46m

https://en.wikipedia.org/wiki/Poverty_in_the_United_States

http://www.irp.wisc.edu/faqs/faq2.htm

CHILD POVERTY USA

1969 13.8%                                       2012 21.3%

http://www.cnsnews.com/news/article/ali-meyer/1-5-children-live-poverty-us

INCARCERATION  USA

1968   94 per 100k population                                    2014  471 per 100k

https://en.wikipedia.org/wiki/United_States_incarceration_rate

SHARE OF TOTAL US INCOME BY 1%

1968 9%                               2013 21%

SHARE OF TOTAL US INCOME BY 0.1%

1968 1%                              2013 5%

http://inequality.org/income-inequality/

https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States

MILITARY SPENDING USA

1968  $600 billion                                           2015 $1300 billion

https://en.wikipedia.org/wiki/Military_budget_of_the_United_States