Who are the 1%?
excerpt;
The next time a politician starts talking about "shared sacrifice" and "skin in the game," send them this Alternet article that puts that horse hockey in perspective:
1. Only THREE PERCENT of the very rich are entrepreneurs.
According to both Marketwatch and economist Edward Wolff, over 90 percent of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), personal business accounts, the stock market, and real estate. Only 3.6 percent of taxpayers in the top .1% were classified as entrepreneurs based on 2004 tax returns. A 2009 Kauffman Foundation study found that the great majority of entrepreneurs come from middle-class backgrounds, with less than 1 percent of all entrepreneurs coming from very rich or very poor backgrounds.
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That's not to take anything away from the 1% that are honest and hardworking.
It's just that most of them are slackers and leeches.