Wealth inequality in the United States

122: 110: 389: 1119: 1103: 135: 857: 1472: 845: 377: 1313:... nearly 96.1 percent of the 1.2 million households in the top one percent by income were white, a total of about 1,150,000 households. In addition, these families were found to have a median net asset worth of $ 8.3 million. In stark contrast, in the same piece, black households were shown as a mere 1.4 percent of the top one percent by income, that's only 16,800 homes. In addition, their median net asset worth was just $ 1.2 million. Using this data as an indicator only several thousand of the over 14 million African American households have more than $ 1.2 million in net assets ... 1373:, the median wealth of non-Hispanic black households fell nearly 38% from 2010 to 2013. During that time, the median wealth of those households fell from $ 16,600 to $ 13,700. The median wealth of Hispanic families fell 14.3% as well, from $ 16,000 to $ 14,000. Despite the median net worth of all households in the United States decreasing with time, as of 2013, white households had a median net worth of $ 141,900 while black house households had a median net worth of just $ 11,000. Hispanic households had a median net worth of just $ 13,700 over that time as well. 401: 170: 1464: 1019: 941:

reporting certain non-taxable income in their AGI at all, such as municipal bond income. In addition, IRS studies consistently show that a majority of households in the top income quintile have moved to a lower quintile within one decade. There are even more changes to households in the top 1%. Without including those data here, a reader is likely to assume households in the top 1% are almost the same from year to year.) In 2009, people in the top 1% of taxpayers made $ 343,927 or more. According to US economist

4150:"Productivity growth closely matched that of median family income until the late 1970s when median American family income stagnated while productivity continued to climb. Chart comparing productivity growth and real median family income growth in the United States from 1947–2009. Source: EPI Authors' analysis of Current Population Survey Annual Social and Economic Supplement Historical Income Tables, (Table F–5) and Bureau of Labor Statistics Productivity – Major Sector Productivity and Costs Database (2012)" 1520:'s proposed budget for 2023 there are two proposed tax changes for households with wealth above $ 100 million. First, is a new "minimum tax" at death for unrealized capital gains above $ 1 million. Second is to realized capital gains as ordinary income; which is expected to effectively raise the percent of capital taxed from 23.8% to 43.4%. Combined it is estimated that these tax changes will place these households at an effective tax rate of 61.1%, which is nearly double the effective tax rate in 2022. 1350:

white families create even more wealth over those same two hundred years. In fact, this is a gap that will never close if America stays on its current economic path. According to the Institute on Assets and Social Policy, for each dollar of increase in average income an African American household saw from 1984 to 2009 just $ 0.69 in additional wealth was generated, compared with the same dollar in increased income creating an additional $ 5.19 in wealth for a similarly situated white household.

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44,900. Although black families had the lowest median net worth of all racial groups, they experienced the greatest percent increase in net worth from 2019 to 2022, at 60 percent. For the first time, the survey calculated net worth for Asian families separately (Asian families had previously been grouped into an "other" category along with Native American, Pacific Islander, and multiracial families). Asian families had the highest median net worth, at $ 536,000.

1146:. Earnings from the stock market or mutual funds are reinvested to produce a larger return. Over time, the sum that is invested becomes progressively more substantial. Those who are not wealthy, however, do not have the resources to enhance their opportunities and improve their economic position. Rather, "after debt payments, poor families are constrained to spend the remaining income on items that will not produce wealth and will depreciate over time." Scholar 929:

equality. From this data, it is evident that in 1989 there was a discrepancy in the level of economic disparity; the extent of wealth inequality was significantly higher than income inequality. Recent research shows that many households, in particular, those headed by young parents (younger than 35), minorities, and individuals with low educational attainment, display very little accumulation. Many have no financial assets and their total net worth is also low.

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are not wealthy are more likely to have their money in savings accounts and home ownership. This difference comprises the largest reason for the continuation of wealth inequality in America: the rich are accumulating more assets while the middle and working classes are just getting by. As of 2007, the richest 1% held about 38% of all privately held wealth in the United States. While the bottom 90% held 73.2% of all debt. According to

1135: 431:, also known as NPR, reported in 2017 that the bottom 50% of U.S. households (by net worth) have little stock market exposure (neither directly nor indirectly through 401k plans), writing: "That means the stock market rally can only directly benefit around half of all Americans — and substantially fewer than it would have a decade ago when nearly two-thirds of families owned stock." 1302:

disadvantaged economic position and prospects of today's blacks to the disadvantaged positions of their parents' and grandparents' generations, according to a report done by Robert B. Avery and Michael S. Rendall that pointed out "one in three white households will receive a substantial inheritance during their lifetime compared to only one in ten black households." In the journal

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by contrast, wasn't just rich — it was specifically rich in terms of owning companies, both stock in publicly traded ones ("corporate equities") and shares of closely held ones ("private businesses")...So the value of those specific assets — assets that people in the bottom half of the distribution never had a chance to own in the first place — soared."

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value of their assets may be enough money to support their lifestyle. Dividends from trusts or gains in the stock market do not fall under the aforementioned definition of income, but are commonly the primary source of capital for the ultra-wealthy. Retired people also have little income, but may have a high net worth, because of money saved over time.

147:, which began in 2007, the share of total wealth owned by the top 1% of the population grew from 35% to 37%, and that owned by the top 20% of Americans grew from 86% to 88%. 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%. 1340:

According to Inequality.org, the median black family is only worth $ 1,700 when durables are deducted. In contrast, the median white family holds $ 116,800 of wealth using the same accounting methods. Today, using Wolff's analysis, the median African American family holds a mere 1.5 percent of median

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If you're white and have a net worth of about $ 356,000, that's good enough to put you in the 72nd percentile of white families. If you're black, it's good enough to catapult you into the 95th percentile." This means 28 percent of the total 83 million white homes, or over 23 million white households,

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found that greater economic inequality in the United States than in Europe was not because of the nature of tax and transfer systems in the United States. The study found that the U.S. redistributes a greater share of its wealth to the bottom half of the income distribution than any European country.

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that derive their value from financial assets like stocks and bonds. The NYT reported that the percentage of workers covered by generous defined-benefit pension plans has declined from 62% in 1983 to 17% by 2016. While some economists consider an increase in the stock market to have a "wealth effect"

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Additionally, income does not capture the extent of wealth inequality. Wealth is most commonly obtained over time, through the steady investing of income, and the growth of assets. The income of one year does not typically encompass the accumulation over a lifetime. Income statistics cover too narrow

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reported in August 2019 that: "Looking at the cumulative growth of wealth disaggregated by group, we see that the bottom 50 percent of wealth owners experienced no net wealth growth since 1989. At the other end of the spectrum, the top 1 percent have seen their wealth grow by almost 300 percent since

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about the study at a congressional hearing in May 2014, she responded "There's no question that we've had a trend toward growing inequality" and that this trend "can shape determine the ability of different groups to participate equally in a democracy and have grave effects on social stability over

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concludes that government policies reflect the desires of the wealthy, and that the vast majority of American citizens have "minuscule, near-zero, statistically non-significant impact upon public policy. When a majority of citizens disagrees with economic elites and/or with organized interests, they

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explained in June 2019 how the ownership of stock has driven wealth inequality, as the bottom 50% has minimal stock ownership: "...he bottom half of the income distribution had a huge share of its wealth tied up in real estate while owning essentially no shares of corporate stock. The top 1 percent,

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However, other studies argue that higher average savings rate will contribute to the reduction of the share of wealth owned by the rich. The reason is that the rich in wealth are not necessarily the individuals with the highest income. Therefore, the relative wealth share of poorer quintiles of the

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Corresponding to financial resources, the wealthy strategically organize their money so that it will produce profit. Affluent people are more likely to allocate their money to financial assets such as stocks, bonds, and other investments which hold the possibility of capital appreciation. Those who

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A study by Emmanuel Saez and Piketty showed that the top 10 percent of earners earned more than half of the country's total income in 2012, the highest level recorded since the government began collecting the relevant data a century ago. People in the top one percent were three times more likely to

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In 2023, the Federal Reserve Board published median and mean family wealth statistics for 2022, based on a nationwide survey of 4,602 families. The average white family's median net worth was $ 285,000. Hispanic families had a median net worth of $ 61,600, and for black families, this figure was $

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A Brandeis University Institute on Assets and Social Policy paper cites the number of years of homeownership, household income, unemployment, education, and inheritance as leading causes for the growth of the gap, concluding homeownership to be the most important. Inheritance can directly link the

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analyzed the Warren's proposal and estimated that about 75,000 households (less than 0.1%) would pay the tax. The tax was expected to raise around $ 2.75 trillion over 10 years, roughly 1% GDP on average per year. This was expected to raise the total tax burden for those subject to the wealth tax

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A 2022 study in PNAS found that earnings inequality in the United States did not increase over the preceding decade, marking the first reversal of rising earnings inequality since 1980. The reversal was due to a shrinking wage gap between low-wage workers and median-wage earners, which was due to

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data indicates that as of Q4 2021, the top 1% of households in the United States held 30.9% of the country's wealth, while the bottom 50% held 2.6%. From 1989 to 2019, wealth became increasingly concentrated in the top 1% and top 10% due in large part to corporate stock ownership concentration in

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found that Warren's proposal would reduce long-term GDP by 0.37% and raise $ 2.2 trillion over a period of ten years, after factoring in macroeconomic feedback effects. It expected the tax to "face serious administrative and compliance challenges due to valuation difficulties and tax evasion and

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Going even further into the data, a recent study by the Institute for Policy Studies (IPS) and the Corporation For Economic Development (CFED) found that it would take 228 years for the average black family to amass the same level of wealth the average white family holds today in 2016. All while

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is a separate social issue, it plays a role in economic inequality. According to the U.S. Census Report, in America the median full-time salary for women is 77 percent of that for men. Also contributing to the wealth inequality in the U.S, both unskilled and skilled workers are being replaced by

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pre-1987 and post-1987 are complicated by large changes in the definition of AGI, which led to households within the top income quintile reporting more of their income on their individual income tax form's AGI, rather than reporting their business income in separate corporate tax returns, or not

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for wealth inequality increased from 0.80 in 1983 to 0.84 in 1989. In the same year, 1989, the Gini coefficient for income was only 0.52. The Gini coefficient is an economic tool on a scale from 0 to 1 that measures the level of inequality. 1 signifies perfect inequality and 0 represents perfect

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formally defines income as money received on a regular basis (exclusive of certain money receipts such as capital gains) before payments on personal income taxes, social security, union dues, Medicare deductions, etc. By this official measure, the wealthiest families may have low income, but the

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perpetuates and increases wealth inequality. Wealthy families pass down their assets allowing future generations to develop even more wealth. The poor, on the other hand, are less able to leave inheritances to their children leaving the latter with little or no wealth on which to build. Wealthy

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proposed an annual tax on wealth in January 2019, specifically a 2% tax for wealth over $ 50 million and another 1% surcharge on wealth over $ 1 billion. Wealth is defined as including all asset classes, including financial assets and real estate. In 2021, officials in the state of Washington

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demand and supply, gender differences, growth in technology, and personal abilities. The quality and level of education that a person has often corresponds to their skill level, which is justified by their income. Wages are also determined by the "market price of a skill" at that current time.

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In 2007, the top 20% of the wealthiest Americans possessed 80% of all financial assets. In 2007 the richest 1% of the American population owned 35% of the country's total wealth, and the next 19% owned 51%. The top 20% of Americans owned 86% of the country's wealth and the bottom 80% of the

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land, which was abundant at the time, and an overall scarcity of labor in non-slaveholding areas, which forced landowners to pay higher wages. There were also relatively few poor people in America at the time, since only those with at least some money could afford to come to America.

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In the late 18th century, “incomes were more equally distributed in colonial America than in any other place that can be measured,” according to Peter Lindert and Jeffrey Williamson. The richest 1 percent of households held only 8.5% of total income in the late 18th century. The

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The Federal Reserve publishes information on the distribution of household assets, debt, and equity (net worth) by quarter going back to 1989. The tables below summarize the net worth data, in real terms (adjusted for inflation), for 1989 to 2022, and 2016 to 2022. Journalist

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NPR reported that when politicians reference the stock market as a measure of economic success, that success is not relevant to nearly half of Americans. Further, more than one-third of Americans who work full-time have no access to pensions or retirement accounts such as

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Distribution of household wealth for the Top 1% and Bottom 50% in the U.S. since 1989, from the Federal Reserve (Wealth by wealth percentile group (Shares (%))). Colored regions indicate the presidencies of Bill Clinton, George W. Bush, Barack Obama, and Donald Trump,

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work more than 50 hours a week, were more likely to be self-employed, and earned a fifth of their income as capital income. The top one percent was composed of many professions and had an annual turnover rate of more than 25%. The five most common professions were

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from 3.2% relative to their wealth under current law to about 4.3% on average, versus the 7.2% for the bottom 99% families. For scale, the federal budget deficit in 2018 was 3.9% GDP and was expected to rise towards 5% GDP over the next decade. An analysis by the

343:, using income tax records and his research-based estimates, showed a reduction of about 10% in the movement of national income toward the top 10% of wealth-owners, a reduction from about 45–50% in 1913 to about 30–35% in 1948. This period spans both The 245:

found that the bottom 20 percent of earners pay an average 2.9 percent effective income tax rate federally, while the richest 1 percent paid an effective 29.6 percent tax rate and the top 0.01 percent paid an effective 30.6 percent tax rate. In 2019, the

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to perpetuate economic inequality in America by steering large sums of wealth into the hands of the wealthiest Americans. The mechanism for this is that when the wealthy avoid paying taxes, wealth concentrates to their coffers and the poor go into debt.

311:, which measures inequality on a scale from 0 to 1(with 1 being very high inequality) was 0.367 in New England and the Middle Atlantic, as compared to 0.57 in Europe. Some reasons for this include the ease that the average American had in buying 1479:

taxes: federal+state income tax, sales tax, property tax, etc) for the richest Americans declined by 2018 to a level beneath that of the bottom 50% of earners, contributing to wealth inequality. Analysis by economists Emmanuel Saez and Gabriel

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notes that "62 percent of households headed by single parents are without savings or other financial assets." Net indebtedness generally prevents the poor from having any opportunity to accumulate wealth and thereby better their conditions.

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are the most important sources of income during retirement, and the promised benefit stream constitutes a sizable fraction of household wealth" and "including pensions and Social Security in net worth makes the distribution more even."

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should be abolished because it provides more tax relief for people in higher tax brackets and with more expensive homes, and that poorer people are more often renters and therefore less likely to be able to use this deduction at all.

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Black programming features TV shows that collectively create false perceptions of wealth for African-American families. The images displayed are in stark contrast to the economic conditions the average black family is battling each

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population owned 14%. In 2011, financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 43%, the next 19% of Americans owning 50%, and the bottom 80% owning 7%. However, after the

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Now, those policies and their progeny have helped put 63 percent of America's private wealth in the hands of U.S. millionaires and billionaires, BCG said. By 2021, their share of the nation's wealth will rise to an estimated 70

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A recent piece on Eurweb/Electronic Urban Report, "Black Wealth Hardly Exists, Even When You Include NBA, NFL and Rap Stars", stated this about the difference between black middle-class families and white middle-class families:

215:, in which he argues that income inequality is the defining issue of the United States—Reich states that 95% of economic gains following the economic recovery which began in 2009 went to the top 1% of Americans (by net worth) ( 61:, and can be leveraged to obtain more wealth. Hence, wealth provides mobility and agency—the ability to act. The accumulation of wealth enables a variety of freedoms, and removes limits on life that one might otherwise face. 4709: 1306:, Lisa Keister reports that family size and structure during childhood "are related to racial differences in adult wealth accumulation trajectories, allowing whites to begin accumulating high-yield assets earlier in life." 4748: 1450:

argues that "extremely high levels" of wealth inequality are "incompatible with the meritocratic values and principles of social justice fundamental to modern democratic societies" and that "the risk of a drift towards

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found that the average effective tax rate paid by the richest 400 families (0.003%) in the US was 23 percent, more than a percentage point lower than the 24.2 percent paid by the bottom half of American households. The

877:. Income refers to a flow of money over time, commonly in the form of a wage or salary; wealth is a collection of assets owned, minus liabilities. In essence, income is what people receive through work, retirement, or 3541:(that is, the top 10 percent of US earners) claimed 45–50 percent of annual national income. By the late 1940s, the share of the top decile had decreased to roughly 30–35 percent of national income." Piketty, Thomas. 1114:, the widening disparity between wages and productivity is evidence that there has been a significant shift of GDP share going from labor to capital, and this trend is playing a significant role in growing inequality. 1235:

argues that "Strong unions have helped to reduce inequality, whereas weaker unions have made it easier for CEOs, sometimes working with market forces that they have helped shape, to increase it." The long fall in

49:, the two are related. Wealth is usually not used for daily expenditures or factored into household budgets, but combined with income, it represents a family's total opportunity to secure stature and a meaningful 1190:

parents often use their economic or political power to advantage their own children, such as by providing extra funding for education, excluding poor families from the local community or schools (usually through

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The study found instead that Europe had less economic inequality because it had been more successful at ensuring that the bottom half of the income distribution are able to get relatively well-paying jobs.

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doubled the exemption of estates by increasing the exemption from $ 5.49 million in 2017 to $ 11.18 million in 2018. This increase in estate exemption was estimated to affect about 3,200 estates in 2018.

186:. In the United States, the use of offshore holdings is exceptionally small compared to Europe, where much of the wealth of the top percentiles is kept in offshore holdings. According to a 2014 22:

CBO Chart, U.S. Holdings of Family Wealth 1989 to 2013. The top 10% of families held 76% of the wealth in 2013, while the bottom 50% of families held 1%. Inequality increased from 1989 to 2013.

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wrote in June 2016 that the top 1% of families captured 52% of the total real income (GDP) growth per family from 2009 to 2015. From 2009 to 2012, the top 1% captured 91% of the income gains.

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found that when state and federal taxes are taken into account, however, the poorest 20 percent pay an effective 20.2 percent rate while the top 1 percent pay an effective 33.7 percent rate.

298:, 735 billionaires collectively possessed more wealth than the bottom half of U.S. households ($ 4.5 trillion and $ 4.1 trillion respectively). The top 1% held a total of $ 43.45 trillion. 3356: 2613: 2338: 2413: 2004: 4881: 3241:"American billionaires paid less in taxes in 2018 than the working class, analysis shows — and it's another sign that one of the biggest problems in the US is only getting worse" 2044: 1999: 912:

of the working and middle classes is dependent primarily upon income and wages, while the rich tend to rely on wealth, distinguishing them from the vast majority of Americans.

2206: 2009: 3537:" He noted a sharp reduction in income inequality in the United States between 1913 and 1948. More specifically, at the beginning of this period, the upper decile of the 3268: 5232: 258:

1989. Although cumulative wealth growth was relatively similar among all wealth groups through the 1990s, the top 1 percent and bottom 50 percent diverged around 2000."

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The image contains several charts related to U.S. wealth inequality. While U.S. net worth roughly doubled from 2000 to 2016, the gains went primarily to the wealthy.

34:) has substantially increased in the United States in recent decades. Wealth commonly includes the values of any homes, automobiles, personal valuables, businesses, 3613: 3588: 3563: 2067: 2019: 324:

Inequality grew in the 19th century; between 1774 and 1860, the Gini coefficient grew from 0.441 to 0.529. In 1860, the top 1 percent collected almost one-third of

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Stiglitz, Joseph E. (June 4, 2012). The Price of Inequality: How Today's Divided Society Endangers Our Future (Kindle Locations 1148–1149). Norton. Kindle Edition.

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until some time in the 1970s. While it began to stagnate, productivity has continued to climb. According to the 2014 Global Wage Report by the

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that increases economic growth, economists like Former Dallas Federal Reserve Bank President Richard Fisher believe those effects are limited.

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down to their children. Moreover, wealth provides for both short- and long-term financial security, bestows social prestige, contributes to

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The report summarizes the problem (gross inequality) and its cause ("special tax treatment for the "), and specific "ways to rebalance the

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Berman Y, Ben-Jacob E, Shapira Y (2016) The Dynamics of Wealth Inequality and the Effect of Income Distribution. PLoS ONE 11(4): e0154196,

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population would increase if the savings rate of income is very large, although the absolute difference from the wealthiest will increase.

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Median wealth of married couples is almost three times that of single individuals, regardless of gender and across all age categories.

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have more than $ 356,000 in net assets. While only 700,000 of the 14 million black homes have more than $ 356,000 in total net worth.

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may help explain why many Americans who have become rich may have had a substantial head start. In September 2012, according to the

54: 2685: 936:, between 1979 and 2007, incomes of the top 1% of Americans grew by an average of 275%. (Note: The IRS insists that comparisons of 1138:

U.S. median family net worth peaked in 2007, declined due to the Great Recession until 2013, and only partially recovered by 2016.

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Though the 10th percentile of American households have zero net worth, the 90th percentile has $ 1.6 million of household wealth.

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is also a result of difference in income. Factors that contribute to this gap in wages are things such as level of education,

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As of 2013, the top 10% own 81% of the stock wealth, the next 10% (80th to 90th percentile) own 11% and the bottom 80% own 8%.

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The Price of Inequality: How Today's Divided Society Endangers Our Future, Stiglitz, J.E.,(2012) W.W. Norton & Company,

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broadly rising pay in low-wage professions. At the same time, the gap between median-wage workers and top earners widened.

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reported that three people (less than the 400 reported in 2011) had more wealth than the bottom half of all Americans.

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those segments of the population; the bottom 50% own little if any corporate stock. From an international perspective,

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Peter Baldwin (2009). The narcissism of minor differences: how America and Europe are alike. Oxford University Press.

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A September 2017 study by the Federal Reserve reported that the top 1% owned 38.5% of the country's wealth in 2016.

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The logarithmic scale shows how wealth has increased for all percentile groups, though moreso for wealthier people.

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Recent Trends in Household Wealth in the United States: Rising Debt and the Middle-Class Squeeze—an Update to 2007

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Toxic Inequality: How America's Wealth Gap Destroys Mobility, Deepens the Racial Divide, and Threatens Our Future

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avoidance issues." It also expected foreign investors to replace American billionaires as the owners of capital.

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The average personal wealth of people in the top 1% is more than a thousand times that of people in bottom 50%.

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wrote in January 2019 that polls indicate the idea of taxing the rich more is very popular. Two billionaires,

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and other sources, in 2011, the 400 wealthiest Americans had more wealth than half of all Americans combined.

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argues that because of this "technological advance", the income gap between workers and owners has widened.

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Berman, Y; Peters, O; Adamou, A (2016). "Far from equilibrium: Wealth reallocation in the United States".

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52% of U.S. adults owned stock in 2016. Ownership peaked at 65% in 2007 and fell significantly due to the

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also greatly rewarded the already-wealthy, as they were the only ones financially sound enough to invest.

5064: 4886:(Chart labeled "Effective tax rates by income".) Analysis by economists Emmanuel Saez and Gabriel Zucman. 4686: 3909:"Tax Data Show Richest 1 Percent Took a Hit in 2008, But Income Remained Highly Concentrated at the Top." 3321: 3269:"For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year" 1354:

Author Lilian Singh wrote on why the perceptions about black life created by media are misleading in the

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A 2021 investigation using leaked IRS documents found more than half of the richest 100 Americans use

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Essentially, the wealthy possess greater financial opportunities that allow their money to make more

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U.S. family pre-tax income and net worth distribution for 2013 and 2016, from the Federal Reserve

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According to a paper published by the Federal Reserve in 1997, "For most households, pensions and

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Selected economic variables related to wealth and income equality, comparing 1979, 2007, and 2015

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Changes in U.S. Family Finances from 2013 to 2016: Evidence from the Survey of Consumer Finances

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by Arthur B. Kennickell and Annika E. Sundén of Board of Governors of the Federal Reserve System

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In 2013, wealth inequality in the U.S. was greater than in most developed countries, other than

4582: 3425:"The wealthiest three families now own more wealth than the bottom half of the country. - TRUE" 1215:

The nature of tax policies in America has been suggested by economists and politicians such as

1126: 5187: 4939: 4845: 4478: 4384: 4099: 4062: 4044: 3952: 3768: 3744: 3336: 3106: 2905: 2744: 2588: 2537: 2514: 2248: 2175: 1894: 1834: 1829: 1549: 1356: 1168: 882: 352: 312: 282: 242: 88: 77: 5099: 4987: 4944:"More Than Half of America's 100 Richest People Exploit Special Trusts to Avoid Estate Taxes" 4583:"Race, Family Structure, and Wealth: The Effect of Childhood Family on Adult Asset Ownership" 3774:. Board of Governors of the Federal Reserve System (US). October 2023. p. 12 (Table 2). 1309:

The article "America's Financial Divide" added context to racial wealth inequality, stating:

1208:, the richest 1 percent in the United States now own more wealth than the bottom 90 percent. 623:

The table below shows changes from Q4 2016 (the end of the Obama Administration) to Q1 2022.

4762: 4599: 4537: 4470: 4374: 4364: 4262: 4052: 4036: 3750:. Board of Governors of the Federal Reserve System (US). October 2023. p. 6 (Table 1). 3245: 2736: 2506: 2393: 1812: 1650: 1556:, criticized the proposal as "unconstitutional" and "ridiculous," respectively. Economists 1537: 1399: 1097: 925: 825: 420: 344: 308: 191: 155: 5172: 3453:"Just 400 Americans -- 400 -- have more wealth than half of all Americans combined. - TRUE" 2557: 1055:

The Federal Reserve reported the median value of stock ownership by income group for 2016:

18: 4458: 3814: 3705: 3662: 3159: 3035: 2984: 2670: 2435: 2388: 2368: 2358: 2295: 2211: 1899: 1874: 1603: 1582: 1243:

Some tax policies subsidize wealthy people more than poor people; critics often argue the

1232: 1147: 1042: 942: 325: 144: 64: 58: 4509:"The Roots of the Widening Racial Wealth Gap: Explaining the Black-White Economic Divide" 3406:

Krystal and Saagar: NEW Data Shows Millionaires, Billionaires Own 79% Of America's Wealth

924:

a time span for it to be an adequate indicator of financial inequality. For example, the

289:, "2020 marked the steepest increase in global billionaires' share of wealth on record." 4360: 4032: 3908: 2924:– Michael Moore says 400 Americans have more wealth than half of all Americans combined" 1033:

summarized the distribution of U.S. stock market ownership (direct and indirect through

5200: 5104: 4831: 4710:"Wealth inequality has widened along racial, ethnic lines since end of Great Recession" 4379: 4344: 4057: 4016: 1586: 1569: 1561: 1553: 1529: 1455:

is real and gives little reason for optimism about where the United States is headed."

1447: 1432: 1390: 1249: 1220: 1134: 878: 237: 4749:"Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens" 4729: 4192: 4107: 285:, the wealth held by billionaires in the U.S. increased by 70%. According to the 2022 5216: 4841: 4744: 4490: 3939: 3011: 2980:"You call this a meritocracy? How rich inheritance is poisoning the American economy" 2689: 2383: 2348: 2269: 2234: 1879: 1730: 1590: 1557: 1318: 1216: 1180: 340: 233: 187: 4627:"America's Financial Divide: The Racial Breakdown of U.S. Wealth in Black and White" 4611: 190:

study, the ratio of wealth to household income is the highest it has been since the

4774: 4668:"Opinion: Black Wealth Hardly Exists, Even When You Include NBA, NFL and Rap Stars" 4171:"Global wage growth stagnates, lags behind pre-crisis rates, ILO, December 5, 2014" 3896: 2756: 2162: 1904: 1750: 1545: 1493:, which reduces inequality by taxing the estate of large quantities of wealth. The 1424: 1224: 1163: 1107: 1034: 348: 212: 1106:

The income growth of the typical American family closely matched that of economic

850:

Annual income of U.S. families is near its highest throughout the 35-64 age group.

4369: 1240:

since WWII has seen a corresponding rise in the inequality of wealth and income.

945:

the richest 1% of Americans gained 93% of the additional income created in 2010.

394:

Higher educational attainment in the US corresponds with higher household wealth.

2893: 2403: 2343: 2228: 1889: 1819: 1785: 1755: 1725: 1253: 179: 81: 4878:"America's richest 400 families now pay a lower tax rate than the middle class" 3728:

While Trump Touts Stock Market, Many Americans Are Left Out of the Conversation

2809: 1508:

On top of the federal estate tax, 17 states have an estate or inheritance tax.

5065:"Saez & Zucman-Scoring of the Warren Wealth Tax Proposal-January 18, 2019" 4947: 4817: 4788: 4766: 4603: 3457: 3429: 3405: 2928: 2762: 2398: 2138: 1914: 1704: 1566: 1533: 1404: 1395:

Income inequality in the United States § Effects on democracy and society

1386: 1331:

in the article "How America's Wealthiest Black Families Invest Money" stated:

1195: 954: 275: 163: 151: 39: 5082:"The Budget and Economic Outlook: 2019 to 2029 - Congressional Budget Office" 4482: 4048: 2740: 2518: 4926:"3,200 wealthy individuals wouldn't pay estate tax next year under GOP plan" 4263:"Emmanuel Saez-Striking it richer: The evolution of top incomes in the U.S." 4083: 4040: 2378: 2363: 2133: 1824: 1739: 1709: 1699: 1694: 1517: 1452: 1289: 1257: 31: 4388: 4066: 2748: 1179:

Income inequality contributes to wealth inequality. For example, economist

1037:) in the U.S., which is highly concentrated among the wealthiest families: 3935: 2614:"The Fed - Table: Distribution of Household Wealth in the U.S. since 1989" 2585:

Social Stratification: Class, Race, and Gender in Sociological Perspective

2510: 1194:), using social connections to provide opportunities for advancement like 1048:

As of 2013, the top 1% of households owned 38% of the stock market wealth.

363:

and efforts towards wealth redistribution also reduced wealth inequality.

5161: 4474: 4345:"Modeling the Origin and Possible Control of the Wealth Inequality Surge" 3815:"U.S. Census Bureau, Housing and Household Economic Statistics Division; 3607:"The Wealth of Households: 2021 / Current Population Reports / P70BR-183" 3582:"The Wealth of Households: 2021 / Current Population Reports / P70BR-183" 3557:"The Wealth of Households: 2021 / Current Population Reports / P70BR-183" 2784: 1261: 1186: 1143: 966: 950: 862:

Accumulated net worth of U.S. families peaks in the 65-74 year age group.

360: 271:, 79% of the country's wealth is owned by millionaires and billionaires. 5081: 4416:

http://journals.plos.org/plosone/article?id=10.1371/journal.pone.0154196

3883:

By Dave Gilson and Carolyn Perot in Mother Jones, March/April 2011 Issue

3481:"Do 728 Billionaires Hold More Wealth Than Half of American Households?" 2896:

by Edward N. Wolff, Levy Economics Institute of Bard College, March 2010

2780:"The new Gilded Age: 2,750 people have more wealth than half the planet" 2465: 5165: 5013:"Sanders Proposes Wealth Tax; Piketty, Reich Applaud-September 6, 2014" 4793: 4291: 2562: 1807: 962: 183: 35: 2494: 3545:(Kindle Locations 298–300). Harvard University Press. Kindle Edition. 3485: 2241: 1856: 1627: 1080: 874: 870: 294: 4401:

Zyga L, Model shows how surge in wealth inequality may be reversed,

351:, events with significant economic consequences. This is called the 4433: 4403:

http://phys.org/news/2015-07-surge-wealth-inequality-reversed.html

2908:

by G. William Domhoff of the UC-Santa Barbara Sociology Department

2495:"Top Wealth in America: New Estimates under Heterogeneous Returns" 1689: 1470: 1462: 1398: 1133: 1125: 1117: 1101: 168: 133: 17: 4017:"Rapid wage growth at the bottom has offset rising US inequality" 3802:

The American Class Structure: In an Age of the Growing Inequality

3063:"Household wealth inequality statistics from the Federal Reserve" 2834: 1595: 1467:

Trends in share of wealth held by various wealth groups 1989-2019

1360:

article "Black Wealth On TV: Realities Don't Match Perceptions":

893:

It does not accurately reflect an individual's economic position.

2684:

Anthony Shorrocks; Jim Davies; Rodrigo Lluberas (October 2018).

2642:"New Federal Reserve data shows how the rich have gotten richer" 1541:

considered proposals to tax wealthy residents within the state.

216: 5129:"Opinion - Schumer and Sanders: Limit Corporate Stock Buybacks" 4565:

Lifetime Inheritances of Three Generations of Whites and Blacks

3380:"Millionaires and Billionaires Own 79% of All Household Wealth" 1599: 3731: 2956: 1030: 881:

whereas wealth is what people own. While the two are related,

428: 5171:

Moritz Kuhn, Moritz Schularick, and Ulrike I. Steins. 2020. "

4863:"FRED Chart - Wealth inequality by wealth group 1989-Present" 4507:

Thomas Shapiro; Tatjana Meschede; Sam Osoro (February 2013).

3156:"Robert Reich: Income inequality the defining issue for U.S." 3123:

Key Inequality Measure The Highest Since The Great Depression

3082:"Yes, U.S. Wealth Inequality Is Terrible by Global Standards" 72:

is over 600%. A 2011 study found that US citizens across the

5100:"Analysis of Sen. Warren and Sen. Sanders' Wealth Tax Plans" 5028:"Mega-Rich and Plans to Tax Them Abound in Washington State" 4813:

Bernie Sanders Asks Fed Chair Whether the US Is an Oligarchy

3605:

Sullivan, Brianna; Hays, Donald; Bennett, Neil (June 2023).

3580:

Sullivan, Brianna; Hays, Donald; Bennett, Neil (June 2023).

3555:

Sullivan, Brianna; Hays, Donald; Bennett, Neil (June 2023).

1544:

Warren's plan received both praise and criticism. Economist

4518:. Brandeis University Institute on Assets and Social Policy 2722:"Building a Better America – One Wealth Quintile at a Time" 2420:

The Divide: American Injustice in the Age of the Wealth Gap

1298:

nearly tripled from $ 85,000 in 1984 to $ 236,500 in 2009.

4732:. Board of Governors of the Federal Reserve System. 2023. 3981: 3979: 3924:

Top Earners Doubled Share of Nation's Income, Study Finds

3142:

Pensions, Social Security, and the Distribution of Wealth

70:

the difference in the US median and mean wealth per adult

4457:

Blanchet, Thomas; Chancel, Lucas; Gethin, Amory (2022).

3514:"The Founding Fathers Weren't Concerned With Inequality" 2556:

Rugaber, Christopher S.; Boak, Josh (January 27, 2014).

2339:

Criticism of credit scoring systems in the United States

1593:

to reduce income and wealth inequality in January 2019.

4687:"Black Wealth On TV: Realities Don't Match Perceptions" 2414:

Tax policy and economic inequality in the United States

4080:

The Richest 10% of Americans Now Own 84% of All Stocks

3911: 3628: 3626: 3612:. United States Census Bureau. p. 5 (Figure 2). 3587:. United States Census Bureau. p. 5 (Figure 2). 1174:

Seven Pillars Institute for Global Finance and Ethics

5127:

Schumer, Chuck; Sanders, Bernie (February 3, 2019).

3562:. United States Census Bureau. p. 2 (Table 1). 3926:

The New York Times By Robert Pear, October 25, 2011

3838: 3836: 3769:"Changes in U.S. Family Finances from 2019 to 2022" 3745:"Changes in U.S. Family Finances from 2019 to 2022" 2829: 2827: 2696:

Global Wealth Report 2018: US and China in the lead

2558:"Wealth gap: A guide to what it is, why it matters" 2220: 2194: 2161: 2117: 2055: 1980: 1934: 1927: 1855: 1778: 1634: 5173:Income and Wealth Inequality in America, 1949–2016 4459:"Why Is Europe More Equal than the United States?" 4193:"Federal Reserve-Survey of Consumer Finances 2017" 2534:Social Inequality: Forms, Causes, and Consequences 2207:Socialism for the rich and capitalism for the poor 5158:Ending Special Tax Treatment for the Very Wealthy 5150:Ending Special Tax Treatment for the Very Wealthy 5047:"Opinion - Elizabeth Warren Does Teddy Roosevelt" 4986:Garrett Watson; Scott A. Hodge (April 12, 2022). 4938:Jeff Ernsthausen; James Bandler; Justin Elliott; 4789:"'Corruption is Legal in America' by RepresentUs" 4644: 4642: 4640: 4213: 4211: 4209: 4125:"Opinion - The Market Isn't Bullish for Everyone" 3036:"The 'Self-Made' Hallucination of America's Rich" 2918:Kertscher, Tom; Borowski, Greg (March 10, 2011). 2862: 2860: 2493:Smith, Matthew; Zidar, Owen; Zwick, Eric (2022). 4538:"Nine Charts about Wealth Inequality in America" 3320:Wamhoff, Steve., Gardner, Matthew (April 2019). 2835:"Evolution of wealth indicators, USA, 1913-2019" 1094:Causes of income inequality in the United States 830:Causes of income inequality in the United States 138:Average and median household income by age group 76:dramatically underestimate the current level of 4021:Proceedings of the National Academy of Sciences 4001:Divided We Stand: Why Inequality Keeps Rising. 2879:Occupy Wall Street And The Rhetoric of Equality 2874: 2872: 2005:Largest financial services companies by revenue 1362: 1347: 1333: 1311: 837:Annual income and accumulated net worth, by age 5209:, vol. 46, no. 3 (February 8, 2024), pp. 7–11. 4563:Avery, Robert B.; Rendall, Michael S. (2002), 4542:Nine Charts about Wealth Inequality in America 4118: 4116: 2333:Citizens United v. Federal Election Commission 1325:'s Institute on Assets and Social Policy, the 3723: 3721: 3719: 3717: 3715: 2000:Largest corporations by market capitalization 1611: 8: 4988:"President Biden's 61 Percent Tax on Wealth" 4463:American Economic Journal: Applied Economics 4343:Berman, Y; Shapira, Y; Ben-Jacob, E (2015). 4098:. September 2017, Vol. 103, No. 3. See PDF: 3341:: CS1 maint: multiple names: authors list ( 3211:"The U.S. Is Where the Rich Are the Richest" 1505:to avoid paying estate taxes when they die. 729:Share of Increase (Increase/Total Increase) 537:Share of Increase (Increase/Total Increase) 3986:The Top 1 Percent - What Jobs Do They Have? 2202:The rich get richer and the poor get poorer 1296:wealth gap between white and black families 359:establishment of social programs under the 4502: 4500: 3970:"The Rich Get Richer Through the Recovery" 2804: 2802: 2121: 2010:Largest manufacturing companies by revenue 1931: 1638: 1618: 1604: 1596: 869:There is an important distinction between 102:Net personal wealth in the U.S. since 1962 4432: 4378: 4368: 4056: 3730:. By Danielle Kurtzleben, March 1, 2017. 3329:Institute on Taxation and Economic Policy 3267:Ingraham, Christopher (October 8, 2019). 3239:Rogers, Taylor Nicole (October 9, 2019). 2950:Pepitone, Julianne (September 22, 2010). 2773: 2771: 2636: 2634: 248:Institute on Taxation and Economic Policy 5233:Economic inequality in the United States 5148:Alexandra Thornton and Galen Hendricks, 4685:Singh, Lillian D. (September 26, 2014). 4296:(audio interview with Richard V. Reeves) 1017: 980: 977:U.S. stock market ownership distribution 896:Income does not portray the severity of 885:alone is insufficient for understanding 625: 433: 30:(i.e. inequality in the distribution of 4801:from the original on December 12, 2021. 3781:from the original on December 25, 2023. 3757:from the original on December 25, 2023. 3679:. federalreserve.gov. February 16, 2020 3636:. fred.stlouisfed.org. October 10, 2020 3183:"Wealth Inequality Is Higher Than Ever" 2952:"Forbes 400: The super-rich get richer" 2536:, Pearson Education, Inc., p. 31, 2466:"Trends in Family Wealth, 1989 to 2013" 2457: 2020:Largest technology companies by revenue 225:According to a June 2017 report by the 80:in the US, and would prefer a far more 4015:Aeppli, Clem; Wilmers, Nathan (2022). 3912:Center on Budget and Policy Priorities 3701: 3690: 3658: 3647: 3359:. equitablegrowth.org. August 22, 2019 3334: 2884:November 1, 2011, by Deborah L. Jacobs 2666: 2655: 2354:Income inequality in the United States 2088:Income inequality in the United States 2083:Wealth inequality in the United States 1282:Racial inequality in the United States 822:Income inequality in the United States 255:Washington Center for Equitable Growth 5203:, "In the Shadow of Silicon Valley", 4865:. fred.stlouisfed.org. March 9, 2020. 4724: 4722: 4704: 4702: 4700: 3507: 3505: 3503: 3034:Pizzigati, Sam (September 24, 2012). 2729:Perspectives on Psychological Science 2015:Largest software companies by revenue 1489:There is a political debate over the 1459:Proposals to reduce wealth inequality 1071:80th to 89th percentile own $ 82,000. 1068:60th to 80th percentile own $ 31,700. 1065:40th to 60th percentile own $ 15,500. 7: 4288:"Redefining "Rich": Not Just The 1%" 4123:Rattner, Steven (January 22, 2018). 3968:Lowrey, Annie (September 10, 2013). 3378:Bruenig, Matt (September 28, 2020). 3322:"Who Pays Taxes in America in 2019?" 3080:Weissmann, Jordan (March 11, 2013). 1995:Largest corporate profits and losses 1475:Total effective tax rates (includes 1407:was the richest person in the world. 4837:Capital in the Twenty-First Century 4315:Kristof, Nicholas (July 22, 2014). 4238:"The Causes of Economic Inequality" 3543:Capital in the Twenty-First Century 3479:Jayshi, Damakant (April 13, 2023). 2841:. World Inequality Database. 2022. 2068:Countries by number of billionaires 1442:Capital in the Twenty-First Century 42:, as well as any associated debts. 5045:Krugman, Paul (January 28, 2019). 4884:from the original on May 11, 2024. 4876:Picchi, Aimee (October 17, 2019). 4730:"2022 Survey of Consumer Finances" 4650:"Our Real Racial Wealth Gap Story" 4082:. By Rob Wile, December 19, 2017. 3853:"Federal Reserve Bank of Chicago, 3677:"Distributional National Accounts" 3619:from the original on May 24, 2024. 3594:from the original on May 24, 2024. 3569:from the original on May 24, 2024. 3121:Mark Gongloff (October 14, 2014). 2778:Picchi, Aimee (December 7, 2021). 2499:The Quarterly Journal of Economics 1536:in the US in 2014. Later, Senator 1062:20th-40th percentile own $ 10,000. 166:grew up in substantial privilege. 14: 4625:Moore, Antonio (April 13, 2015). 3512:Semuels, Alana (April 25, 2016). 3451:Kertscher, Tom (March 10, 2011). 3181:Bruenig, Matt (October 1, 2017). 3154:Svaldi, Aldo (January 11, 2014). 2845:from the original on July 5, 2023 2720:Norton, M.I.; Ariely, D. (2011). 1717:Primitive accumulation of capital 1112:International Labour Organization 243:Urban-Brookings Tax Policy Center 211:—a 2013 documentary, narrated by 5026:Mahoney, Laura (March 4, 2021). 4921:Heather Long, November 5, 2017, 4317:"An Idiot's Guide to Inequality" 3296:"Are federal taxes progressive?" 3209:Steverman, Ben (June 16, 2017). 2978:Bruenig, Matt (March 24, 2014). 2327:Distribution of wealth in Europe 2063:Cities by number of billionaires 1245:home mortgage interest deduction 855: 843: 399: 387: 375: 253:Using Federal Reserve data, the 120: 108: 4236:Leung, May (January 22, 2015). 3423:Kertscher, Tom (July 3, 2019). 3413:on YouTube, September 29, 2020. 3007:"Inequality – Inherited wealth" 2587:, p. 637. Westview Press, 2001 2264:The Theory of the Leisure Class 2139:Acquired situational narcissism 1503:grantor retained annuity trusts 1491:estate tax in the United States 1411:A 2014 study by researchers at 1369:According to an article by the 2810:"World Inequality Report 2022" 2446:List of Americans by net worth 2322:Affluence in the United States 2078:Countries by wealth inequality 1678:History of economic inequality 1341:white American family wealth. 292:As of late 2022, according to 1: 5177:Journal of Political Economy. 1495:Tax Cuts and Jobs Act of 2017 5154:Center for American Progress 4811:John Nichols (May 7, 2014). 4370:10.1371/journal.pone.0130181 3041:Institute for Policy Studies 2045:Number of billionaire alumni 1990:Largest companies by revenue 1429:chair of the Federal Reserve 414:Effect of stock market gains 261:According to an analysis of 164:Forbes richest 400 Americans 160:Institute for Policy Studies 5228:Wealth in the United States 4569:University of Chicago Press 4104:Survey of Consumer Finances 3881:It's the Inequality, Stupid 3132:Retrieved October 14, 2014. 2694:October 10, 2018, article: 2471:Congressional Budget Office 2431:Wealth in the United States 1286:Racism in the United States 1088:Causes of wealth inequality 1024:Survey of Consumer Finances 934:Congressional Budget Office 917:United States Census Bureau 774:Share of Net Worth Q1 2022 754:Share of Net Worth Q4 2016 749:(Intentionally left blank) 582:Share of Net Worth Q1 2022 562:Share of Net Worth Q3 1989 557:(Intentionally left blank) 264:Survey of Consumer Finances 232:A 2019 study by economists 5256: 5182:Thomas M. Shapiro (2017). 4928:Retrieved August 30, 2018. 2532:Hurst, Charles E. (2007), 1431:was questioned by Senator 1384: 1279: 1091: 819: 4767:10.1017/S1537592714001595 4604:10.1525/sop.2004.47.2.161 4591:Sociological Perspectives 4581:Keister, Lisa A. (2004). 4516:Research and Policy Brief 3804:. Belmont, CA: Wadsworth. 2920:"The Truth-O-Meter Says: 2906:Wealth, Income, and Power 2291: 2124: 2073:Countries by total wealth 1952:List of centibillionaires 1796:High-net-worth individual 1641: 1304:Sociological Perspectives 1269:American Economic Journal 983: 162:, over 60 percent of the 4754:Perspectives on Politics 4096:Federal Reserve Bulletin 3914:. Accessed October 2011. 3855:Savings of Young Parents 2741:10.1177/1745691610393524 2708:Downloadable data sheets 2409:Redistribution of wealth 1685:International inequality 1673:Consumption distribution 1238:unionization in the U.S. 689:Increase ($ trillions) 497:Increase ($ trillions) 84:distribution of wealth. 45:Although different from 4242:Seven Pillars Institute 4041:10.1073/pnas.2204305119 3385:People's Policy Project 1761:Conspicuous consumption 1577:Limiting stock buybacks 1328:Harvard Business Review 1059:Bottom 20% own $ 5,800. 669:Q1 2022 ($ trillions) 649:Q4 2016 ($ trillions) 477:Q1 2022 ($ trillions) 457:Q3 1989 ($ trillions) 357:Franklin D. Roosevelt's 287:World Inequality Report 269:People's Policy Project 227:Boston Consulting Group 5238:Distribution of wealth 5206:London Review of Books 4942:(September 26, 2021). 4822:Retrieved May 8, 2014. 4747:(September 18, 2014). 3893:Who are the 1 percent? 3700:Cite journal requires 3657:Cite journal requires 2686:"Global Wealth Report" 2665:Cite journal requires 2618:www.federalreserve.gov 2147:Argumentum ad crumenam 1532:pitched the idea of a 1481: 1468: 1408: 1367: 1352: 1338: 1315: 1139: 1131: 1123: 1115: 1074:Top 10% own $ 365,000. 1026: 267:data from 2019 by the 175: 139: 23: 4743:Gilens, Martin & 4691:The American Prospect 4567:, vol. 107, The 2278:The Wealth of Nations 2129:Diseases of affluence 1474: 1466: 1402: 1317:Relying on data from 1137: 1129: 1121: 1105: 1021: 938:adjusted gross income 900:in the United States. 429:National Public Radio 172: 137: 21: 4475:10.1257/app.20200703 3800:Gilbert, D. (1998). 2644:. Vox. June 13, 2019 2441:American upper class 2426:Wealth concentration 2186:Venture philanthropy 2181:Philanthrocapitalism 2093:Most expensive items 1967:Wealthiest Americans 1947:list of billionaires 1646:Capital accumulation 1267:A 2022 study in the 898:financial inequality 629:Household Net Worth 437:Household Net Worth 28:inequality of wealth 5223:Capital (economics) 5168:on a better track." 5088:. January 28, 2019. 4923:The Washington Post 4674:. October 12, 2016. 4361:2015PLoSO..1030181B 4033:2022PNAS..11904305A 4027:(42): e2204305119. 3821:. December 20, 2005 3539:income distribution 3274:The Washington Post 3128:The Huffington Post 2511:10.1093/qje/qjac033 2242:Greek god of wealth 2153:Prosperity theology 1972:Wealthiest families 1957:Female billionaires 1791:Captain of industry 1766:Conspicuous leisure 1668:Income distribution 1663:Wealth distribution 1658:Economic inequality 1589:advocated limiting 1381:Effect on democracy 1371:Pew Research Center 1323:Brandeis University 1192:exclusionary zoning 1160:Economic inequality 1155:Economic inequality 887:economic inequality 53:, or to pass their 5133:The New York Times 5108:. January 28, 2020 5051:The New York Times 4322:The New York Times 4173:. December 5, 2014 4129:The New York Times 3992:January 14, 2012, 3990:The New York Times 3899:, October 29, 2011 2374:Occupy Wall Street 2105:Wealthiest animals 1524:Taxation of wealth 1482: 1469: 1420:generally lose." 1409: 1276:Racial disparities 1205:The New York Times 1140: 1132: 1124: 1116: 1027: 910:standard of living 908:asserted that the 336:Early 20th century 208:Inequality for All 176: 140: 74:political spectrum 51:standard of living 24: 4940:Patricia Callahan 3942:, June 23, 2012, 3634:"Total Net Worth" 3300:Tax Policy Center 3111:978-0-19-539120-6 3069:. March 18, 2020. 2812:. October 9, 2021 2583:Grusky, David B. 2543:978-0-205-69829-5 2474:. August 18, 2016 2311: 2310: 2287: 2286: 2176:The Giving Pledge 2113: 2112: 1923: 1922: 1550:Michael Bloomberg 1446:French economist 1357:American Prospect 1169:gender inequality 1016: 1015: 932:According to the 889:for two reasons: 883:income inequality 816:Wealth and income 813: 812: 621: 620: 353:Great Compression 302:Late 18th century 283:COVID-19 pandemic 89:COVID-19 pandemic 78:wealth inequality 47:income inequality 5245: 5197: 5156:, June 4, 2019. 5137: 5136: 5124: 5118: 5117: 5115: 5113: 5096: 5090: 5089: 5078: 5072: 5071: 5069: 5061: 5055: 5054: 5042: 5036: 5035: 5023: 5017: 5016: 5009: 5003: 5002: 5000: 4998: 4983: 4977: 4976: 4974: 4972: 4958: 4952: 4951: 4935: 4929: 4919: 4913: 4912: 4910: 4908: 4893: 4887: 4885: 4873: 4867: 4866: 4859: 4853: 4829: 4823: 4809: 4803: 4802: 4785: 4779: 4778: 4740: 4734: 4733: 4726: 4717: 4716: 4714: 4706: 4695: 4694: 4682: 4676: 4675: 4664: 4658: 4657: 4646: 4635: 4634: 4622: 4616: 4615: 4587: 4578: 4572: 4571: 4560: 4554: 4553: 4551: 4549: 4534: 4528: 4527: 4525: 4523: 4513: 4504: 4495: 4494: 4454: 4448: 4445: 4439: 4438: 4436: 4424: 4418: 4412: 4406: 4399: 4393: 4392: 4382: 4372: 4340: 4334: 4333: 4331: 4329: 4312: 4306: 4305:Hurst, pp. 34–35 4303: 4297: 4295: 4294:. July 19, 2017. 4284: 4278: 4277: 4275: 4273: 4267: 4259: 4253: 4252: 4250: 4248: 4233: 4227: 4224: 4218: 4215: 4204: 4203: 4201: 4199: 4189: 4183: 4182: 4180: 4178: 4167: 4161: 4160: 4158: 4156: 4146: 4140: 4139: 4137: 4135: 4120: 4111: 4093: 4087: 4077: 4071: 4070: 4060: 4012: 4006: 3999: 3993: 3983: 3974: 3973: 3965: 3959: 3949: 3943: 3933: 3927: 3921: 3915: 3906: 3900: 3890: 3884: 3878: 3872: 3871: 3869: 3867: 3861: 3849: 3843: 3840: 3831: 3830: 3828: 3826: 3811: 3805: 3798: 3792: 3791:Grusky, page 637 3789: 3783: 3782: 3780: 3773: 3765: 3759: 3758: 3756: 3749: 3741: 3735: 3725: 3710: 3709: 3703: 3698: 3696: 3688: 3686: 3684: 3673: 3667: 3666: 3660: 3655: 3653: 3645: 3643: 3641: 3630: 3621: 3620: 3618: 3611: 3602: 3596: 3595: 3593: 3586: 3577: 3571: 3570: 3568: 3561: 3552: 3546: 3535: 3529: 3528: 3526: 3524: 3509: 3498: 3497: 3495: 3493: 3476: 3470: 3469: 3467: 3465: 3448: 3442: 3441: 3439: 3437: 3420: 3414: 3403: 3397: 3396: 3394: 3392: 3375: 3369: 3368: 3366: 3364: 3353: 3347: 3346: 3340: 3332: 3326: 3317: 3311: 3310: 3308: 3306: 3292: 3286: 3285: 3283: 3281: 3264: 3258: 3257: 3255: 3253: 3246:Business Insider 3236: 3230: 3229: 3223: 3221: 3206: 3200: 3199: 3197: 3195: 3178: 3172: 3171: 3169: 3167: 3151: 3145: 3139: 3133: 3119: 3113: 3103: 3097: 3096: 3094: 3092: 3077: 3071: 3070: 3059: 3053: 3052: 3050: 3048: 3031: 3025: 3024: 3022: 3020: 3015:. March 18, 2014 3003: 2997: 2996: 2994: 2992: 2975: 2969: 2968: 2966: 2964: 2947: 2941: 2940: 2938: 2936: 2915: 2909: 2903: 2897: 2891: 2885: 2876: 2867: 2864: 2855: 2854: 2852: 2850: 2831: 2822: 2821: 2819: 2817: 2806: 2797: 2796: 2794: 2792: 2775: 2766: 2760: 2726: 2717: 2711: 2693: 2681: 2675: 2674: 2668: 2663: 2661: 2653: 2651: 2649: 2638: 2629: 2628: 2626: 2624: 2610: 2604: 2601: 2595: 2581: 2575: 2574: 2572: 2570: 2553: 2547: 2546: 2529: 2523: 2522: 2490: 2484: 2483: 2481: 2479: 2462: 2394:Pareto principle 2171:Gospel of Wealth 2122: 1932: 1743: 1734: 1651:Overaccumulation 1639: 1620: 1613: 1606: 1597: 1538:Elizabeth Warren 1250:Regressive taxes 1098:Cycle of poverty 981: 926:Gini coefficient 859: 847: 826:Cycle of poverty 794:Change in Share 626: 602:Change in Share 434: 421:Matthew Yglesias 403: 391: 379: 345:Great Depression 330:financial sector 326:property incomes 309:Gini coefficient 192:Great Depression 156:Inherited wealth 124: 112: 5255: 5254: 5248: 5247: 5246: 5244: 5243: 5242: 5213: 5212: 5194: 5186:. Basic Books. 5181: 5145: 5143:Further reading 5140: 5126: 5125: 5121: 5111: 5109: 5098: 5097: 5093: 5080: 5079: 5075: 5067: 5063: 5062: 5058: 5044: 5043: 5039: 5025: 5024: 5020: 5011: 5010: 5006: 4996: 4994: 4985: 4984: 4980: 4970: 4968: 4960: 4959: 4955: 4937: 4936: 4932: 4920: 4916: 4906: 4904: 4895: 4894: 4890: 4875: 4874: 4870: 4861: 4860: 4856: 4832:Piketty, Thomas 4830: 4826: 4810: 4806: 4787: 4786: 4782: 4742: 4741: 4737: 4728: 4727: 4720: 4712: 4708: 4707: 4698: 4684: 4683: 4679: 4666: 4665: 4661: 4648: 4647: 4638: 4624: 4623: 4619: 4585: 4580: 4579: 4575: 4562: 4561: 4557: 4547: 4545: 4536: 4535: 4531: 4521: 4519: 4511: 4506: 4505: 4498: 4456: 4455: 4451: 4446: 4442: 4426: 4425: 4421: 4413: 4409: 4400: 4396: 4355:(6): e0130181. 4342: 4341: 4337: 4327: 4325: 4314: 4313: 4309: 4304: 4300: 4286: 4285: 4281: 4271: 4269: 4268:. June 30, 2016 4265: 4261: 4260: 4256: 4246: 4244: 4235: 4234: 4230: 4225: 4221: 4216: 4207: 4197: 4195: 4191: 4190: 4186: 4176: 4174: 4169: 4168: 4164: 4154: 4152: 4148: 4147: 4143: 4133: 4131: 4122: 4121: 4114: 4094: 4090: 4078: 4074: 4014: 4013: 4009: 4000: 3996: 3984: 3977: 3967: 3966: 3962: 3950: 3946: 3936:An ordinary Joe 3934: 3930: 3922: 3918: 3907: 3903: 3891: 3887: 3879: 3875: 3865: 3863: 3862:. December 2000 3859: 3851: 3850: 3846: 3841: 3834: 3824: 3822: 3817:Income Overview 3813: 3812: 3808: 3799: 3795: 3790: 3786: 3778: 3771: 3767: 3766: 3762: 3754: 3747: 3743: 3742: 3738: 3726: 3713: 3699: 3689: 3682: 3680: 3675: 3674: 3670: 3656: 3646: 3639: 3637: 3632: 3631: 3624: 3616: 3609: 3604: 3603: 3599: 3591: 3584: 3579: 3578: 3574: 3566: 3559: 3554: 3553: 3549: 3536: 3532: 3522: 3520: 3511: 3510: 3501: 3491: 3489: 3478: 3477: 3473: 3463: 3461: 3450: 3449: 3445: 3435: 3433: 3422: 3421: 3417: 3404: 3400: 3390: 3388: 3377: 3376: 3372: 3362: 3360: 3355: 3354: 3350: 3333: 3324: 3319: 3318: 3314: 3304: 3302: 3294: 3293: 3289: 3279: 3277: 3266: 3265: 3261: 3251: 3249: 3238: 3237: 3233: 3219: 3217: 3208: 3207: 3203: 3193: 3191: 3180: 3179: 3175: 3165: 3163: 3160:The Denver Post 3153: 3152: 3148: 3140: 3136: 3120: 3116: 3104: 3100: 3090: 3088: 3079: 3078: 3074: 3067:Federal Reserve 3061: 3060: 3056: 3046: 3044: 3033: 3032: 3028: 3018: 3016: 3005: 3004: 3000: 2990: 2988: 2977: 2976: 2972: 2962: 2960: 2949: 2948: 2944: 2934: 2932: 2917: 2916: 2912: 2904: 2900: 2892: 2888: 2877: 2870: 2865: 2858: 2848: 2846: 2833: 2832: 2825: 2815: 2813: 2808: 2807: 2800: 2790: 2788: 2777: 2776: 2769: 2724: 2719: 2718: 2714: 2683: 2682: 2678: 2664: 2654: 2647: 2645: 2640: 2639: 2632: 2622: 2620: 2612: 2611: 2607: 2602: 2598: 2582: 2578: 2568: 2566: 2555: 2554: 2550: 2544: 2531: 2530: 2526: 2492: 2491: 2487: 2477: 2475: 2464: 2463: 2459: 2455: 2450: 2389:Paradise Papers 2369:Occupy movement 2359:Monetary policy 2317: 2312: 2307: 2283: 2216: 2212:Too big to fail 2190: 2157: 2109: 2051: 2030:Philanthropists 1976: 1919: 1851: 1774: 1630: 1624: 1583:Charles Schumer 1579: 1526: 1514: 1487: 1461: 1397: 1383: 1292: 1278: 1233:Joseph Stiglitz 1172:machinery. The 1157: 1148:David B. Grusky 1100: 1090: 1043:Great Recession 1029:In March 2017, 986: 979: 943:Joseph Stiglitz 867: 866: 865: 864: 863: 860: 852: 851: 848: 839: 838: 832: 818: 416: 411: 410: 409: 408: 407: 404: 396: 395: 392: 384: 383: 380: 369: 338: 322: 304: 199:Social Security 145:Great Recession 132: 131: 130: 129: 128: 125: 117: 116: 113: 104: 103: 97: 65:Federal Reserve 59:political power 12: 11: 5: 5253: 5252: 5249: 5241: 5240: 5235: 5230: 5225: 5215: 5214: 5211: 5210: 5201:Rebecca Solnit 5198: 5193:978-0465046935 5192: 5179: 5169: 5144: 5141: 5139: 5138: 5119: 5105:Tax Foundation 5091: 5073: 5056: 5037: 5018: 5004: 4992:Tax Foundation 4978: 4953: 4930: 4914: 4888: 4868: 4854: 4824: 4804: 4780: 4761:(3): 564–581. 4745:Page, Benjamin 4735: 4718: 4696: 4677: 4659: 4654:Inequality.org 4636: 4617: 4573: 4555: 4529: 4496: 4469:(4): 480–518. 4449: 4440: 4419: 4407: 4394: 4335: 4307: 4298: 4279: 4254: 4228: 4226:Grusky, p. 640 4219: 4205: 4184: 4162: 4141: 4112: 4088: 4072: 4007: 3994: 3975: 3960: 3957:978-0393088694 3944: 3928: 3916: 3901: 3885: 3873: 3844: 3842:Keister, p. 65 3832: 3806: 3793: 3784: 3760: 3736: 3711: 3702:|journal= 3668: 3659:|journal= 3622: 3597: 3572: 3547: 3530: 3499: 3471: 3443: 3415: 3398: 3370: 3348: 3312: 3287: 3259: 3231: 3201: 3173: 3146: 3134: 3114: 3098: 3072: 3054: 3026: 2998: 2970: 2942: 2910: 2898: 2886: 2868: 2856: 2823: 2798: 2767: 2712: 2676: 2667:|journal= 2630: 2605: 2603:Keister, p. 64 2596: 2576: 2548: 2542: 2524: 2485: 2456: 2454: 2451: 2449: 2448: 2443: 2438: 2436:We are the 99% 2433: 2428: 2423: 2416: 2411: 2406: 2401: 2396: 2391: 2386: 2381: 2376: 2371: 2366: 2361: 2356: 2351: 2346: 2341: 2336: 2329: 2324: 2318: 2316: 2313: 2309: 2308: 2306: 2305: 2304: 2303: 2292: 2289: 2288: 2285: 2284: 2282: 2281: 2274: 2267: 2260: 2259: 2258: 2246: 2245: 2244: 2232: 2224: 2222: 2218: 2217: 2215: 2214: 2209: 2204: 2198: 2196: 2192: 2191: 2189: 2188: 2183: 2178: 2173: 2167: 2165: 2159: 2158: 2156: 2155: 2150: 2143: 2142: 2141: 2136: 2125: 2119: 2115: 2114: 2111: 2110: 2108: 2107: 2102: 2101: 2100: 2090: 2085: 2080: 2075: 2070: 2065: 2059: 2057: 2053: 2052: 2050: 2049: 2048: 2047: 2042: 2040:Endowment size 2034: 2033: 2032: 2022: 2017: 2012: 2007: 2002: 1997: 1992: 1986: 1984: 1978: 1977: 1975: 1974: 1969: 1964: 1962:Richest royals 1959: 1954: 1949: 1940: 1938: 1929: 1925: 1924: 1921: 1920: 1918: 1917: 1912: 1907: 1902: 1897: 1892: 1887: 1882: 1877: 1872: 1867: 1861: 1859: 1853: 1852: 1850: 1849: 1844: 1843: 1842: 1837: 1832: 1822: 1817: 1816: 1815: 1805: 1804: 1803: 1793: 1788: 1782: 1780: 1776: 1775: 1773: 1772: 1771: 1770: 1769: 1768: 1763: 1748: 1747: 1746: 1737: 1723: 1722: 1721: 1720: 1719: 1707: 1702: 1697: 1692: 1687: 1682: 1681: 1680: 1675: 1670: 1665: 1655: 1654: 1653: 1642: 1636: 1632: 1631: 1625: 1623: 1622: 1615: 1608: 1600: 1591:stock buybacks 1587:Bernie Sanders 1578: 1575: 1570:Tax Foundation 1562:Gabriel Zucman 1554:Howard Schultz 1530:Bernie Sanders 1525: 1522: 1513: 1510: 1486: 1483: 1460: 1457: 1448:Thomas Piketty 1433:Bernie Sanders 1391:Corporatocracy 1382: 1379: 1277: 1274: 1231:The economist 1221:Thomas Piketty 1156: 1153: 1089: 1086: 1076: 1075: 1072: 1069: 1066: 1063: 1060: 1053: 1052: 1049: 1046: 1014: 1013: 1010: 1006: 1005: 1002: 998: 997: 994: 990: 989: 985:Stock owned by 978: 975: 959:administrators 906:Dennis Gilbert 902: 901: 894: 879:social welfare 861: 854: 853: 849: 842: 841: 840: 836: 835: 834: 833: 817: 814: 811: 810: 807: 804: 801: 798: 795: 791: 790: 787: 784: 781: 778: 775: 771: 770: 767: 764: 761: 758: 755: 751: 750: 746: 745: 742: 739: 736: 733: 730: 726: 725: 722: 719: 716: 713: 710: 706: 705: 702: 699: 696: 693: 690: 686: 685: 682: 679: 676: 673: 670: 666: 665: 662: 659: 656: 653: 650: 646: 645: 642: 639: 636: 633: 630: 619: 618: 615: 612: 609: 606: 603: 599: 598: 595: 592: 589: 586: 583: 579: 578: 575: 572: 569: 566: 563: 559: 558: 554: 553: 550: 547: 544: 541: 538: 534: 533: 530: 527: 524: 521: 518: 514: 513: 510: 507: 504: 501: 498: 494: 493: 490: 487: 484: 481: 478: 474: 473: 470: 467: 464: 461: 458: 454: 453: 450: 447: 444: 441: 438: 415: 412: 405: 398: 397: 393: 386: 385: 381: 374: 373: 372: 371: 370: 368: 365: 337: 334: 321: 318: 303: 300: 274:Also in 2019, 238:Gabriel Zucman 126: 119: 118: 114: 107: 106: 105: 101: 100: 99: 98: 96: 93: 13: 10: 9: 6: 4: 3: 2: 5251: 5250: 5239: 5236: 5234: 5231: 5229: 5226: 5224: 5221: 5220: 5218: 5208: 5207: 5202: 5199: 5195: 5189: 5185: 5180: 5178: 5174: 5170: 5167: 5163: 5159: 5155: 5151: 5147: 5146: 5142: 5134: 5130: 5123: 5120: 5107: 5106: 5101: 5095: 5092: 5087: 5083: 5077: 5074: 5066: 5060: 5057: 5052: 5048: 5041: 5038: 5033: 5032:Bloomberg Tax 5029: 5022: 5019: 5014: 5008: 5005: 4993: 4989: 4982: 4979: 4967: 4963: 4957: 4954: 4949: 4945: 4941: 4934: 4931: 4927: 4924: 4918: 4915: 4902: 4898: 4892: 4889: 4883: 4879: 4872: 4869: 4864: 4858: 4855: 4851: 4847: 4843: 4842:Belknap Press 4840: 4838: 4833: 4828: 4825: 4821: 4819: 4814: 4808: 4805: 4800: 4796: 4795: 4790: 4784: 4781: 4776: 4772: 4768: 4764: 4760: 4756: 4755: 4750: 4746: 4739: 4736: 4731: 4725: 4723: 4719: 4711: 4705: 4703: 4701: 4697: 4692: 4688: 4681: 4678: 4673: 4669: 4663: 4660: 4655: 4651: 4645: 4643: 4641: 4637: 4632: 4628: 4621: 4618: 4613: 4609: 4605: 4601: 4598:(2): 161–87. 4597: 4593: 4592: 4584: 4577: 4574: 4570: 4566: 4559: 4556: 4543: 4539: 4533: 4530: 4517: 4510: 4503: 4501: 4497: 4492: 4488: 4484: 4480: 4476: 4472: 4468: 4464: 4460: 4453: 4450: 4444: 4441: 4435: 4430: 4423: 4420: 4417: 4411: 4408: 4404: 4398: 4395: 4390: 4386: 4381: 4376: 4371: 4366: 4362: 4358: 4354: 4350: 4346: 4339: 4336: 4324: 4323: 4318: 4311: 4308: 4302: 4299: 4293: 4289: 4283: 4280: 4264: 4258: 4255: 4243: 4239: 4232: 4229: 4223: 4220: 4217:Hurst, p. 36 4214: 4212: 4210: 4206: 4194: 4188: 4185: 4172: 4166: 4163: 4151: 4145: 4142: 4130: 4126: 4119: 4117: 4113: 4109: 4105: 4101: 4097: 4092: 4089: 4085: 4081: 4076: 4073: 4068: 4064: 4059: 4054: 4050: 4046: 4042: 4038: 4034: 4030: 4026: 4022: 4018: 4011: 4008: 4004: 3998: 3995: 3991: 3987: 3982: 3980: 3976: 3971: 3964: 3961: 3958: 3954: 3948: 3945: 3941: 3940:The Economist 3937: 3932: 3929: 3925: 3920: 3917: 3913: 3910: 3905: 3902: 3898: 3894: 3889: 3886: 3882: 3877: 3874: 3858: 3856: 3848: 3845: 3839: 3837: 3833: 3820: 3818: 3810: 3807: 3803: 3797: 3794: 3788: 3785: 3777: 3770: 3764: 3761: 3753: 3746: 3740: 3737: 3733: 3729: 3724: 3722: 3720: 3718: 3716: 3712: 3707: 3694: 3678: 3672: 3669: 3664: 3651: 3635: 3629: 3627: 3623: 3615: 3608: 3601: 3598: 3590: 3583: 3576: 3573: 3565: 3558: 3551: 3548: 3544: 3540: 3534: 3531: 3523:September 28, 3519: 3515: 3508: 3506: 3504: 3500: 3488: 3487: 3482: 3475: 3472: 3460: 3459: 3454: 3447: 3444: 3432: 3431: 3426: 3419: 3416: 3412: 3411: 3407: 3402: 3399: 3387: 3386: 3381: 3374: 3371: 3358: 3352: 3349: 3344: 3338: 3330: 3323: 3316: 3313: 3301: 3297: 3291: 3288: 3276: 3275: 3270: 3263: 3260: 3248: 3247: 3242: 3235: 3232: 3228: 3216: 3212: 3205: 3202: 3190: 3189: 3184: 3177: 3174: 3162: 3161: 3157: 3150: 3147: 3143: 3138: 3135: 3131: 3129: 3124: 3118: 3115: 3112: 3108: 3102: 3099: 3087: 3083: 3076: 3073: 3068: 3064: 3058: 3055: 3043: 3042: 3037: 3030: 3027: 3014: 3013: 3012:The Economist 3008: 3002: 2999: 2987: 2986: 2981: 2974: 2971: 2959: 2958: 2953: 2946: 2943: 2931: 2930: 2925: 2923: 2914: 2911: 2907: 2902: 2899: 2895: 2890: 2887: 2883: 2880: 2875: 2873: 2869: 2863: 2861: 2857: 2844: 2840: 2836: 2830: 2828: 2824: 2811: 2805: 2803: 2799: 2787: 2786: 2781: 2774: 2772: 2768: 2764: 2758: 2754: 2750: 2746: 2742: 2738: 2734: 2730: 2723: 2716: 2713: 2709: 2705: 2701: 2697: 2691: 2690:Credit Suisse 2687: 2680: 2677: 2672: 2659: 2643: 2637: 2635: 2631: 2619: 2615: 2609: 2606: 2600: 2597: 2594: 2593:0-8133-6654-2 2590: 2586: 2580: 2577: 2565: 2564: 2559: 2552: 2549: 2545: 2539: 2535: 2528: 2525: 2520: 2516: 2512: 2508: 2504: 2500: 2496: 2489: 2486: 2473: 2472: 2467: 2461: 2458: 2452: 2447: 2444: 2442: 2439: 2437: 2434: 2432: 2429: 2427: 2424: 2422: 2421: 2417: 2415: 2412: 2410: 2407: 2405: 2402: 2400: 2397: 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Knowledge (XXG)

Wealth inequality in the United States

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