US News

Why the rich keep getting richer, compared to everyone else, is a topic of recurring debate among the nation’s economists.

“If there were a good answer to that question, I think the policymakers in Washington would be all over it to fix it,” said Scott Hoyt, senior director for Moody's Analytics.

Just as economists don’t all agree on what is causing the rich to get richer, there is no consensus that the concentration of wealth is bad for the rest of America.

They never understand anything almost as if their jobs depend on it.

Interesting how the golden 90's, right after major capitalist victory, brought drastic drop of wealth for the middle "class".

The fuck is a middle class

Wtf is this "middle class" anyway? How do you define it? And where is the line?

The classes I learned from my schools and university is simpler: If you work, you are the worker. If you exploit the worker, you are a capitalist.

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.

Put another way: 3.5 million people control more wealth than 210 million people. Each individual of those 3.5 million owns as much as 60 "middle classers" combined.

Lastly, according to this graphic, the top 1% and 60% of middle income earners account for only ~51% of the nation's wealth? There's no way the bottom 39% control 49% of the wealth, so where tf is it? Something's fucky

how did they categorise the middle class

I wonder if this correlates with the wealth of the 1% in pre-revolutionary China and Russia? 🤔

Line goes up, so the Amerikkkan economic system is still working as intended. Ignore the other line, just look at the upward line. The only important line. /j