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Wealth inequality is more unequal than income inequality, with the top 1% households owning approximately 42% of the net worth in 2012, versus 24% in 1979. [216] According to a September 2017 report by the Federal Reserve, wealth inequality is at record highs; the top 1% controlled 38.6% of the country's wealth in 2016. [217]
The wealthy gain more political power, which results in policies that further slow economic growth. Many economists claim that America's growing income inequality is "deeply worrying", [125] unjust, [65] a danger to democracy/social stability, [148] [146] [147] or a sign of national decline. [163]
This file, which was originally posted to Wealth Inequality in America, was reviewed on 12 February 2016 by reviewer INeverCry, who confirmed that it was available there under the stated license on that date.
interest,” and sought repeatedly to stall development of America’s domestic resources, Romney’s path forward would establish America as an energy superpower in the 21st century. I have a vision for an America that is an energy superpower, rapidly increasing our reality by the end of my second term.” THE ROMNEY AGENDA:
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 wealth of households in the top 1% of the population was $13.977 million in 2009.
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.
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According to the Institute on Assets and Social Policy, for each dollar of increase in average income an African American household saw from 1984 to 2009 just $0.69 in additional wealth was generated, compared with the same dollar in increased income creating an additional $5.19 in wealth for a similarly situated white household.