Sunday, October 10, 2021

The 1% Wealth Grows

The Occupy Wall Street movement introduced the term "1%" into the political-economic lexicon.

In the USA  "middle class" is defined here as households earning $27,000 to $141,000 annually,

To belong to the 1% $500,000 per year is required. According to the Fed data, 1.3 million U.S. households now have more wealth than the 77.8 million families in the middle 60% (a measure economists often use as a definition of the middle class)

The middle 60% of U.S. households by income saw their combined assets drop to 26.6% of national wealth as of June, the lowest in Federal Reserve data going back three decades. 

For the first time, the superrich had a bigger share, at 27%. In 1990 the top 1% held just 17% of the nation's wealth—less than half of the middle class' 36%.

The middle class' share of real estate, equities, and private businesses has also steadily declined in recent decades. While the middle class owned 44% of U.S. real estate assets in 1991, its share is down to 38% today.

Taxing the rich October article – (

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