This is shameful; it's past time for a change.
U.S. and Israel have worst inequality in the developed world - May. 21, 2015
The U.S. and Israel have the worst inequality in the developed world, according to a report from the Organisation for Economic Co-operation and Development. The OECD found that the gap between rich and poor is at record levels in most of its 34 member countries. But the U.S. and Israel stood out from the pack. In the U.S., the richest 10% of the population earn 16.5 times the income of the poorest 10%. In Israel, the richest 10% earn 15 times that of the poorest. That compares with the average ratio of 9.6 times across the OECD.
The income gap has been growing steadily in recent decades. In the 1980s, the rich made about 7 times as much as the poor. The report also reveals wealth inequality is even more extreme than income inequality. Data from 2012 shows that among 18 member nations, the top 10% of households controlled half of all wealth, while the bottom 40% owned just 3%. Based on the top 5%, the U.S. has the widest wealth gap. These households own nearly 91 times the wealth of the average.