Monday, November 13, 2017

Read it. And weep?

 From the Institute of Policy Studies

  • The three wealthiest people in the United States — Bill Gates, Jeff Bezos, and Warren Buffett — now own more wealth than the entire bottom half of the American population combined, a total of 160 million people or 63 million households. 
  • America’s top 25 billionaires — a group the size of a major league baseball team’s active roster — together hold $1 trillion in wealth. These 25 have as much wealth as 56 percent of the population, a total 178 million people or 70 million households. 
  • The billionaires who make up the full Forbes 400 list now own more wealth than the bottom 64 percent of the U.S. population, an estimated 80 million households or 204 million people — more people than the populations of Canada and Mexico combined. 
  • The median American family has a net worth of $80,000, excluding the family car. The Forbes 400 own more wealth than 33 million of these typical American families. 
  • One in five U.S households, over 19 percent, have zero or negative net worth. 
  • “Underwater households” make up an even higher share of households of color. Over 30 percent of black households and 27 percent of Latino households have zero or negative net worth to fall back on.

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