5 ms·

Honestly thought it would be worse than that?

• code_duck 7y ago
  The "the share of wealth among the richest 1% increased to 32% from 23% over the same period." finding is maybe worse.
• FabHK 7y ago
  According to this, the top 1% control 32% of the wealth (and the bottom 90% about 33%, a bit hard to see on the graph). According to the previously discussed Bloomberg piece (about Zucman and Saez), the top 0.1% of taxpayers own 20% of US wealth, the top 1% control 39% (and the bottom 90% have 26%). So, it might be worse. EDIT to add: Bloomberg piece discussed here: https://news.ycombinator.com/item?id=19991496 https://news.ycombinator.com/item?id=19991496
• pzo 7y ago
  It is probably worse if you would compare wealth distribution globally. Those statistics only represent distibution in USA - 1st world country and currently the biggest economy in the world.
• pmoriarty 7y ago
  It probably is worse, because by definition no measure can include hidden wealth. Hiding wealth is not quite as easy as it once was. Thanks to financial transparency legislation and the pressure the US has mounted on the international banking system, simply dumping money in to a Swiss bank account isn't as effective as it once was. I'm frankly surprised that such measures were successful in countries that are run largely by and for the wealthy, and they are one of the developments that keeps my customary pessimism about the way the world is heading in check. Still, the ultra wealthy still have the resources to hire some very smart and creative people to hide their wealth in other ways.