Saturday, 28 November 2020

Once again, the very wealthy hold more than 80% of the rest of America combined.

 See chart but think about it too.



There's no data for "the common man" before the seventies but the wealthy data points cover a century.
Before the stock market crash and well into the 1930's, the very wealthy held a similar immense share of all of America's wealth.
That the immensely wealthy have again as big a share of the pie as they did 90 years ago may not indicate dysfunction.  Missing from the chart is a report on how much the pie has grown since then for the benefit of all.
When you add up the top tenth of a percent, the top one percent (presumably excluding the top tenth of a percent)  and the eighty percent, there's a lot of wealth held by the other 19%.
And remember that much of what we call "poor" means "young" as new entrants to the workforce are at the bottom rungs of their career and earning power.




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