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Moritz Kuhn, Moritz Schularick, and Ulrike I. Steins. 2020. "Income and Wealth Inequality in America, 1949–2016." Journal of Political Economy. Thomas M. Shapiro (2017). Toxic Inequality: How America's Wealth Gap Destroys Mobility, Deepens the Racial Divide, and Threatens Our Future. Basic Books. ISBN 978-0465046935.
Financial wealth is defined as "net worth minus net equity in owner-occupied housing." [30] In real money terms and not just percentage share of wealth, the wealth gap between the top 1% and the other quartiles of the population is immense. The average wealth of households in the top 1% of the population was $13.977 million in 2009.
A December 2011 Gallup poll found a decline in the number of Americans who rated reducing the gap in income and wealth between the rich and the poor as extremely or very important (21 percent of Republicans, 43 percent of independents, and 72 percent of Democrats). [191] Only 45% see the gap as in need of fixing, while 52% do not.
In 2022, families in America's top 10% held 60% of all wealth, up from 56% in 1989. Families in the top 1% held 23% of the nation's wealth in 1989, which has now grown to 27%.
It’s no secret that there’s a large wealth gap in the United States, and it’s been growing larger in recent years.Federal Reserve data show that as of June 2023, the top 1% of U.S ...
WASHINGTON (Reuters) -The inflation-adjusted wealth of white households in the U.S. grew faster than that of Black and Hispanic households from the start of 2019 through the third quarter of last ...
The current Forbes 400 is now primarily made up of newly wealthy business owners, not heirs and heiresses. [35] In parallel research, the University of Chicago's Steven Kaplan and Stanford University's Joshua Rauh note that 69% of those on the Forbes list are actually first generation wealth creators. That figure has risen dramatically since ...
This, he says, has caused the wealth gap with many people barely getting by while others thrive. “It was an agrarian economy a couple hundred years ago,” he said in an interview with CNN.