The richest 1 percent now owns more of the country’s wealth than at any time in the past 50 years - News Summed Up

The richest 1 percent now owns more of the country’s wealth than at any time in the past 50 years


Wealth, often described as net worth, describes how much stuff you actually have: It's the value of your assets minus the value of your debts. The top 20 percent of households actually own a whopping 90 percent of the stuff in America — 90 slices of pie! Their average net worth? The next 20 percent of households (average net worth: $273,600) help themselves to eight slices, while the middle 20 percent ($81,700 net worth, on average) split a measly two slices. Combined, the average net worth of the bottom 40 percent of households is -$8,900.


Source: Washington Post December 06, 2017 15:11 UTC



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