cross-posted from: https://lemmy.ml/post/9299269

https://www.usatoday.com/story/money/2023/12/06/top-1-american-earners-more-wealth-middle-class/71769832007/

  • Water Bowl Slime@lemmygrad.ml
    ·
    1 year ago

    The top 1% holds $38.7 trillion in wealth. That’s more than the combined wealth of America’s middle class, a group many economists define as the middle 60% of households by income. Those households hold about 26% of all wealth.

    Low-income Americans, representing the bottom 20% by income, own about 3% of the wealth.

    So it's more like the top 1% owns as much wealth as the entire rest of the country.

    • keepcarrot [she/her]
      ·
      1 year ago

      There's a 19% gap between the "middle 60%" and the 1% that has a bunch of money.

      Idk who has decided these numbers or why they're significant. Seems pretty arbitrary