Tuesday, October 13, 2020

Some statistics you should know

Over 20 percent of America's income flows to the top 1 percent.

The top 1 percent’s share of American wealth is approaching 40 percent.

The top 0.1 percent hold roughly the same share of wealth as the bottom 90 percent.

Of America’s inflation- and population-adjusted increase in wealth between 2006 and 2018, over 87 percent went to the top 10 percent. 

Over 60 percent went to the top 1 percent. 

The top .01 percent, a baseball-park-sized group of just 32,669 Americans, grabbed over 23 percent of the country’s increase in wealth.

And nearly 10 percent of that increase went to the 400 wealthiest Americans.

The 290 million who make up the so-called bottom 90 percent, meanwhile, saw just 13 percent of the nation’s wealth gains between 2006 and 2018, not much over half of what went to the top .01 percent.

The bottom 50 percent actually lost wealth over that 2006-2018 period.

The end-result of all this number crunching:

 Of that $13.871-trillion increase in inflation- and population-adjusted household wealth, $12.078 trillion went to the nation’s wealthiest 10 percent, leaving just $1.793 trillion to the bottom 90 percent.

Within that $12.078 trillion for the top 10 percent,

$8.537 trillion went to the top 1 percent, 

$5.519 trillion to the top 0.1 percent, and 

$3.201 trillion to the top 0.01 percent. 

The 400 wealthiest Americans? 

They got a $1.314 trillion of the increase.


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