this post was submitted on 04 Sep 2023
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Better headline: the richest 1% of Americans have more combined wealth than the bottom 90% of Americans.
And yet while anger is directed at the 1%, the party in government get all their money from them so they raise taxes and make efforts to disperse the wealth of the 9% between the two as they neither fund the government nor are a big enough voting bloc for them to care - many of the 90% consider them the same anyway as when you have no disposable income or worse then having some disposable income may as well be having more money than you know what to do with, so taxing the 9% gets the vote of much of the 90%
It's more like the top 0.0000009% own more than the bottom 87%. The whole 1% thing is really drastically underselling the issue of the scale of inequality.
Agreed, but the data they’re citing doesn’t show that. It does show what I commented.