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.
No comments:
Post a Comment