Unequal Distribution of Wealth
The term wealth means all of the assets a person holds minus their liabilities. How the collective wealth of a society is dispersed within itself is considered the distribution of wealth.
The chart above depicts the growing disparity within the United States. In 2010 the top 400 people (.0000013% of the population) held more wealth than the bottom 60% combined. (Source) What does this mean on a person-to-person basis?
- The top 400 people average $3,425,000,000 of net wealth per person
- The bottom 184,203,930 people average $6,840 of net wealth per person
Slightly expanding the viewpoint past the top 400 reveals that the top 1% own more net wealth and over double the net financial assets then the bottom 90% combined. (Source)
The scary part is this divide is only growing larger. As the top 1% has continued to expand their pockets it has been inversely affecting the rest of the population. From 1983-2009 the bottom 60% have had a decrease in both their percent of total wealth and in their tangible amount of wealth. This means families in the bottom 60% in 1983 actually held more wealth than families in the same bracket do today.
Table of Contents & Page Links
1) Income Inequality Influences the US Personal Savings Rate
2) Income Disparity Sparked by Low Top Marginal Tax Rates
3) Unequal Distribution of Wealth
4) Tax Breaks and Tax Loopholes for the Rich
5) Low Capital Gains Tax Rates Cause Investment Bubbles
6) Great Depression VS Great Recession
7) The Job Creators Myth Debunked
8) Government Spending and the National Debt
This is a working paper and will be updated and expanded upon as time permits. All comments, questions, and alternative opinions are greatly appreciated.
Brian Rogel isn’t a household name but his analysis of wealth inequality could become household reading.