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This difference comprises the largest reason for the continuation of wealth inequality in America: the rich are accumulating more assets while the middle and working classes are just getting by. As of 2007, the richest 1% held about 38% of all privately held wealth in the United States. [14] While the bottom 90% held 73.2% of all debt. [73]
Wealth is affected by movements in the prices of assets, such as stocks, bonds and real estate, which fluctuate over the short-term. Income inequality has significant effects over long-term shifts in wealth inequality. Wealth inequality is increasing: The top .1% owned approximately 22% of the wealth in 2012, versus 7% in 1978.
The United States has the greatest income disparity among developed nations. [1] However, the inequality indicators vary considerably from state to state. States that have a high concentration of skilled jobs, implement regressive tax policies, or have weaker worker protections in general tend to have greater income inequalities.
McKinsey's research shows that men make key financial decisions in two-thirds of all affluent households in the United States. When women take control of wealth after their partners' deaths, it ...
Jonathan Hopkin writes the United States is an outlier regarding economic inequality which hit "unprecedented levels for the rich democracies" as it took the lead in implementing the neoliberal agenda in the 1980s, making it "the most extreme case of the subjection of society to the brute force of the market." He adds that even with average ...
Wealth in the United States is commonly measured in terms of net worth, which is the sum of all assets, including the market value of real estate, like a home, minus all liabilities. [20] The United States is the wealthiest country in the world. [21] U.S. Household and non-profit Net Worth 1959 – 2016, nominal and real (2016 dollars).
Actual wealth gap explained Citing a myriad of causes -- from cheap credit to exploitative bank practices -- they've noted that the average family puts away less than 4 percent of its income.
Together, the top 20% of households owned 93% of the financial wealth in the United States. Financial wealth is defined as "net worth minus net equity in owner-occupied housing." [30] In real money terms and not just percentage share of wealth, the wealth gap between the top 1% and the other quartiles of the population is immense. The average ...