Friday, January 09, 2015

Forget the 1%: It's the 0.1%

Saez and Zucman, 2014 via Slate
1/1000 Of The US Now Controls More Than 1/5 Of The Wealth

SCOTT BIXBY, WORLD ECONOMIC FORUM
JAN. 5, 2015, 7:38 AM

Forget the 1% — the real winners of the post-collapse economy are America’s top one-thousandth.

Using data gleaned from tax returns to estimate the distribution of household wealth in the United States since 1913, economists Emmanuel Saez, of UC-Berkeley, and Gabriel Zucman, of the London School of Economics, have determined that the top 0.1 percent of American households control more than 22% of the nation’s wealth.

Or, in layman’s terms, one-thousandth of the country controls one-fifth of the wealth:

Notice anything terrifying?

(Read more here.)

2 Comments:

Blogger Tom Koch said...

Those on the 'left side of the aisle' should ask themselves how the 'great divide' grew under President Obama.

4:23 PM  
Blogger Tom Koch said...

Those on the 'left side of the aisle' should ask themselves how the 'great divide' grew under President Obama.

4:24 PM  

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