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After the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%. [55] [53]
The top 20% of Americans owned 86% of the country's wealth and the bottom 80% of the population owned 14%. In 2011, financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 43%, the next 19% of Americans owning 50%, and the bottom 80% owning 7%. [15]
The American upper class is a social group within the United States consisting of people who have the highest social rank, due to economic wealth, lineage, and typically educational attainment. [2][3] The American upper class is estimated to be the richest 1% of the population. The American upper class is distinguished from the rest of the ...
Nearly half the top 1% by income were also in the top 1% by wealth. [279] In 2010, the wealthiest 5% of households owned approximately 72% of financial wealth, while the bottom 80% of households had 5%. [280] The top 1% controlled 38.6% of the country's wealth in 2016. [281] Much of the wealth gain came to those in the top 1%.
The following median household income data are retrieved from American Community Survey 2021 1-year estimates. In this survey, the nationwide population was 331,893,745 in 2021. [2] The median household income in 2021 across the general population (all races and ethnicities included) was $69,717. [2]
After the Great Recession started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. Median household wealth dropped by 36.1% compared to a drop of only 11.1% for the top 1%, further widening the gap.
Most sociologists use the richest 1% of the population, but others use different benchmarks and characteristics. Income and wealth statistics may serve as a helpful guideline as they can be measured in a more objective manner. Members of the upper class control and own significant portions of corporate America, and may exercise indirect power ...
The American upper class is a social group within the United States consisting of people who have the highest social rank primarily due to economic wealth. [8][9] The American upper class is estimated to constitute less than 1% of the population. By self-identification, according to this 2001–2012 Gallup Poll data, 98% of Americans identify ...