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> Iirc, by far the greatest %-age net worth growth in 2020 was among the bottom 50%: greater than the growth in the top 10% or top 1%. That’s not true at all.
by luffapi 5y ago
> Iirc, by far the greatest %-age net worth growth in 2020 was among the bottom 50%: greater than the growth in the top 10% or top 1%.
That’s not true at all. By far most gains were captured by the wealthy:
https://www.cnbc.com/2021/06/23/how-much-wealth-top-1percent-of-americans-have.html https://www.cnbc.com/2021/06/23/how-much-wealth-top-1percent...
- gruez 5y ago>That’s not true at all. By far most gains were captured by the wealthy: The problem with that analysis is that it implies a 1%/1% growth (for rich/poor respectively) is preferable to a 2%/6% growth.
- deleted 5y ago[deleted]
- sokoloff 5y ago> That’s not true at all. What they said was technically/precisely true, despite not being particularly meaningful. https://fredblog.stlouisfed.org/2021/07/net-worth-gains-in-2020-were-the-largest-for-the-least-wealthy/ https://fredblog.stlouisfed.org/2021/07/net-worth-gains-in-2...