Occupy Wall Street

Politics

The One Percenters’ Fortress City

By From the June 2012 issue

In the dystopian blockbuster movie The Hunger Games, a restless and resentful population in the nation of Panem is controlled by the wealthy and powerful who reside in the fortress city of Capitol.

Is that all that different from today’s United States, where wealth and power seem increasingly to gravitate toward the Beltway and its suburbs? Money magazine recently looked at the 3,033 counties in the U.S. based on income and found that the top one-half of 1 percent is dominated by Washington, D.C. Of the 15 counties with the highest median household incomes, an astonishing 10 are in the Washington area and have an average income almost double that of the nation as a whole. Four of the remaining five surround New York City, and are populated by many Wall Streeters who benefited from TARP and other federal bailouts.

Send to Kindle