On Wealth Inequality

Dear friends,

As many of you know I have a Bachelor of Science degree in Sociology from Ball State University. For those of you that don't know what what Sociology is it's the science of applying mathematical calculations to society. Birth rates, death rates marriage stats.etc... Kind of boring right, a lot like Actuarial science. I've always kept up with the field because I find it fascinating.

But enough on my qualification to write this, I was watching World News Tonight with Charles Gibson and I heard an interesting statistic. The top 1% ofthe American population has 25% of the wealth, while the lowest 50% of the American population shares 12.5%of the wealth. The median American household income in 2006 was$38,000. Up $2000 from 2005, but with the devaluing dollar was that really a gain?? Now if you don't know how the median income is calculated, they (the statisticians) throw out the top and bottom five or ten percent and calculate the median. Now let's pretend that the theory of communism works, and tomorrow all of us were equal. In theory we should all be at that 50% mark. That would meanthat the average household income would be $152,000. Four times the median! Please do the math yourself and always question authority. I find this very disturbing and would invite you to prove me wrong.

The difference between the average income and themedian income is measured by an index known as the Gini co-efficient. Wikipedia has a great article on this http://en.wikipedia.org/wiki/Gini_coefficient. I am also told that the CIA website has a great article about this.

Recently billionaire Warren Buffett posed a challenge to his fellow billionaires, including Ted Turner and Mark Cuban. "Why am I paying 22% in taxeswhile my secretary is paying 33%???" He has yet to receive a response.
Now those of you that know me know that there are three subjects that I never speak of, politics, religion and my sex life. So this is really going out on a limb for me. Please take this information with you when you vote next November.

Thanks,

Jeff