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.
This article linked to this page to explain why they chose that definition of middle class. It’s because statisticians like it so yeah, pretty arbitrary.
So it’s more like the top 1% owns as much wealth as the entire rest of the country.
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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
This article linked to this page to explain why they chose that definition of middle class. It’s because statisticians like it so yeah, pretty arbitrary.