Forget the 1%: It's the 0.1%
Saez and Zucman, 2014 via Slate |
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:
Those on the 'left side of the aisle' should ask themselves how the 'great divide' grew under President Obama.
Those on the 'left side of the aisle' should ask themselves how the 'great divide' grew under President Obama.
Post a Comment
<< Home