Is it true that 90% of Americas wealth is controlled by 1% of Americas population?
No it is not true. The top 1% own 38.1% of the wealth in the country, the next 4% own 21.3%, and the next 5% own 11.5%. That is to say, the top 10% of the country owns 70.9% of the wealth of this nation. The wealth distribution is more skewed than the income distribution where the top 1% have “only 20% of the income. Obama supporters are on average richer than Hillary supporters and some of the very very wealthy are democrats and support Obama, for example Warren Buffet, George Suros, and John Kerry’s wife. Edit” Actually they do have economist figuring out wealth shares, for example see http://www.columbia.edu/~wk2110/bin/esta… Edit: Here is a paper on wealth distribution and power with who controls wealth in the US, what kind they own, and comparison with other countries. You should give it to your teacher.
I’m pretty sure it’s 90% of the wealth is controlled by 2% of the population in America, and it’s 90% of the wealth is controlled by 10% of the population in the world. Maybe it’s the other way around. Yes, those who say the top 10% pay more taxes than the remaining 90% in America are correct, but that is an incredibly biased statistic, seeing as the bottom 90% consists of all the illegal immigrants, the homeless, the unemployed, criminals, and others that don’t generally pay taxes. Percentage-wise, the average American middle-class person pays more than the average American upper-class person. Though, number-wise it’s less, percentage-wise, it’s greater.
” … the richest 1 percent of households owned 38 percent of all wealth. … Wealth inequality in the United States has a Gini coefficient of .82, which is pretty close to the maximum level of inequality you can have … top 5 percent own more than half of all wealth … the top 5 percent had more wealth than the remaining 95 percent of the population, collectively … The top 20 percent owns over 80 percent of all wealth … The richest 10 percent of families own about 85 percent of all outstanding stocks. They own about 85 percent of all financial securities, 90 percent of all business assets … The major asset of the middle class is their home. The major assets of the rich are stocks and small business equity. If stock prices increase more quickly than housing prices, then the share of wealth owned by the richest households goes up. …
