“The richest 1% of Americans currently own a whopping 40% of total household wealth.” #TaxTheRich

Wealth Inequality Is Way Worse Than You Think, And Tax Havens Play A Big Role

In the United States, wealth has become more concentrated since at any time since the “Roaring” 1920s, Zucman says. The richest 1% of Americans currently own a whopping 40% of total household wealth.

“At the global level, wealth is highly concentrated: the top 10% owns more than 70% of the total wealth in China, Europe, and the United States combined; the bottom 50% owns less than 2%; and the middle 40% owns less than 30%,” the paper says.

In the United States, wealth has become more concentrated since at any time since the “Roaring” 1920s, Zucman says. The richest 1% of Americans currently own a whopping 40% of total household wealth.

Zucman identifies another dubious honor for the United States: “No country (apart from Russia) for which estimates of wealth inequality are available has similarly high recorded levels of wealth inequality.”

https://www.forbes.com/sites/pedrodacosta/2019/02/12/wealth-inequality-is-way-worse-than-you-think-and-tax-havens-play-a-big-role/#10c2e9f0eac8

One thought on ““The richest 1% of Americans currently own a whopping 40% of total household wealth.” #TaxTheRich”

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