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> those that can afford to invest made a lot of money, but everyday workers are no better off According to those graphs, even the bottom quartile saw a substan
by jcparkyn 3y ago
> those that can afford to invest made a lot of money, but everyday workers are no better off
According to those graphs, even the bottom quartile saw a substantial increase in net worth during the pandemic [1]. Sure, this is much less in absolute terms than the higher quartiles, but as a percentage increase it's actually far higher (almost 1000% between 2019 and 2022).
This doesn't detract from your point that poorer people don't benefit much from capital gains, but I think it's still worth pointing out.
[1] https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Net_Worth;demographic:nwcat;population:1;units:median;range:1989,2022 https://www.federalreserve.gov/econres/scf/dataviz/scf/chart...
- deleted 3y ago[deleted]