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There are very few of them, and yet they control the vast majority of the country's wealth. The top 1% owns 55% of all the valuable assets in the United States.
by hannasanarion 6y ago
There are very few of them, and yet they control the vast majority of the country's wealth. The top 1% owns 55% of all the valuable assets in the United States. The top 10% owns 85% of all valuable assets. Most of the remaining 15% of assets are owned by pension funds and small-time landlords.
Just by taxing that top 10% (roughly people who earn over 200k/yr), the government would get access to 85% of all the nation's wealth.
- refurb 6y agoThat’s exactly my point. It’s not the billionaires who own most of the wealth, but the top 10% which includes people making over $200k per year. There are LOTS of those folks. That’s where the bill of the wealth is.
- hannasanarion 6y agoNo, that's where about 30% of the wealth is. The bulk of the wealth is the 55% that is owned by the top 1%, roughly people making over $550,000/yr What is "55%" if not "most of the wealth"?