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So what would that actually mean? If you put everyone on the X axis in order of their income, with the Y axis representing income, what would the curve look lik
by Tycho 16y ago
So what would that actually mean? If you put everyone on the X axis in order of their income, with the Y axis representing income, what would the curve look like in order for the top 20% to own 30% of the wealth? And if you left this running, what would the total wealth graph look like after say 50 years?
- corysama 16y agoAccording to http://en.wikipedia.org/wiki/Wealth_in_the_United_States http://en.wikipedia.org/wiki/Wealth_in_the_United_States the total household wealth in the US is $55 trillion. https://www.cia.gov/library/publications/the-world-factbook/geos/us.html https://www.cia.gov/library/publications/the-world-factbook/... says the US population is 313 million. $55t/313m = $175k per person on average. The most conservative proposal from the survey splits the wealth at roughly 40:20:20:10:10. That means if we had an average representative of each of the 5 groups, they would each be worth 5* $175* (that group's percentage) = $350k : $175k : $175k : $87.5k : $87.5k Meanwhile, the most liberal proposal was roughly 30:20:20:15:15 giving $262K : $175k : $175k : $131k : $131k
- Tycho 16y agoHeh, the fringe Scottish Socialist Party had a much maligned proposal to instate a wage cap of £250k (approximately $350k), which according to this study actually aligns with the conservative ideal. Just shows how firm a grasp of the statistics people have when it comes to this sort of thing.