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The Great Recession also caused a drop of 36% in median household wealth, but a drop of only 11% for the top 1%, further widening the gap between the top 1% and the bottom 99%. [ 16 ] [ 15 ] [ 17 ] According to PolitiFact and other sources, in 2011, the 400 wealthiest Americans had more wealth than half of all Americans combined.
Part of the systemic issues that can keep some people in poverty or prevent them from moving up in the middle class involves gaps in familial wealth. Simply put, it’s easier to reach home plate ...
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.
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
Credit - Getty Images. A white family in Atlanta, Georgia today has 46 times as much wealth as a Black family; a racial wealth gap that is exactly the same as it was nationally in 1863 when ...
Meanwhile, the bottom 40% of earners saw their share of the country’s wealth shrink to 6.7% from 7% over the same time frame. These figures provide fodder for the idea that the rich get richer ...
Between 1953 and 2005 median earnings as well as educational attainment increased, at a far greater pace for women than for men. Median income for female earners male earners increased 157.2% versus 36.2% for men, over four times as fast. Today the median male worker earns roughly 68.4% more than their female counterparts, compared to 176.3% in ...
Consistently positive cash flow, or excess income after all household spending, is critical to achieving financial stability and building wealth, the report argues. However, renters are ...