LINK The richest 10 of households now represent 70 of all US wealth - MarketWatch
The good news just keeps coming ... for a few but almost no one in America. smh
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Feel free to reply to any comment by clicking the "Reply" button.I just read the article . A net worth of 1m puts you in the top 10% net worth in the country. That may be, but that by no means makes you rich. $2M IS THE TOP 5%. The top 1 % is over 10m. My guess is that's where the real wealth resides.
If you think about it everone starts adulthood with zero net worth, unless you inherited it. If you buy a house or car to start work, you are now negative net worth. Most non trust fund people don't achieve positive net worth till sometime in their 40s.
Among my peers that I know professionally most are in the top 10%, but imo none of them are rich. They own their home , drive regular cars , etc. Xomfortable not rich . What's scary to me is how so very many people have so little.
Bigwavedave
Level 8
May 25, 2019
0
@SeaGreenEyez demonizing me is silly, we need policies that lift everone up. 30 think a year is ridiculous.
Bernie was talking about this Decades ago...go to YouTube & see him!
AnneWimsey
Level 9
May 25, 2019
2
It's curious that the bottom 50% was likely responsible for trumps election and a further increase in disparity.
rogueflyer
Level 8
May 25, 2019
1
THHA:
That is an acceptable argument, and I suppose someone could have said the same thing prior to the French Revolution, about how passive people were in accepting the status quo . . . . . . but given this is a trend line that keeps moving further and further in favor of the rich, mostly because of their monopoly on the media . . .
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