4 ms·
Yes, your family doctor is also likely part of the 1%. Unfortunately, the term 1% has shifted to basically mean "the people with most of the wealth and power in
by chongli 2y ago
Yes, your family doctor is also likely part of the 1%. Unfortunately, the term 1% has shifted to basically mean "the people with most of the wealth and power in a country" which is a much smaller group of people, perhaps even less than 0.01%.
Quibbling over the mathematical inaccuracy of the term is tilting at windmills. You'd have better luck getting people to stop using the word "literally" to mean its opposite.
- Dylan16807 2y ago> the people with most of the wealth and power The top 1% are pretty close to having most of the wealth in the US. They have about a third of it. Then 90-99 have about a third, 50-90 have about a third, and 0-50 have a rounding error. The top 0.1% have about 15-20% of the wealth, which is very concentrated but not a very big fraction of the entire pie. Meaningful cutoffs are tricky to assign. I don't know how to measure power. You could probably assign a lot of power to the top 0.01%, but in the US they have a single digit percentage of wealth.