Sunday, August 21, 2011

Israeli Capitalists

Ninety percent of Israelis earn most of their income from labour, while the richest citizens' income derives mostly from investments found a new report by the Knesset Research and Information Center. The bottom nine deciles - meaning, 90% of the population, from the poorest through the "upper middle class" - earn more than 90% of their total income from labor.

For the top decile, however, the picture is entirely different - the richest 10% of the population earns 58% of its income from labor and the remaining 42% from investments, such as capital returns on assets including stock. The figures become even starker for CEOs and the self-employed in the top percentile - the country's richest 1% earn 31% of their income from labor, and a full 69% from investments.

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