3 ms·
I have to roll my eyes at these articles that say we should be angry at the second to top quintile- a quintile whose total wealth is something like 12% of the n
by awakeasleep 8y ago
I have to roll my eyes at these articles that say we should be angry at the second to top quintile- a quintile whose total wealth is something like 12% of the national total.
The middle quintile holds about 3% of national wealth.
Thats really low, but the 60-80% group isn't exactly high or disproportionate.
We're talking about a real power law distribution of wealth in the USA, and it's downright counterproductive to scold or shame the hockey stick before the blade.
- joe_the_user 8y agoYes, I suspect one could probably show that increasing inequality is most tied to a decline real median wage and that tax inequality is a fairly small factor. Sometimes that middle class protects its turf but there is much more going on.
- harryh 8y agoThis article isn't about the second to top quintile, it's about the top quintile. "America's Top 20 Percent" is right there in the title.