America: The richest 10% hold 76% of the wealth

counting money gif

It all adds up to the death of the middle class and the U.S. becoming more like a banana republic, with a significant number of rich and a large number of impoverished.

Excerpt from CNN Money

The rich are still getting richer in the U.S., with the wealthiest 10% controlling three-quarters of all family wealth in the country.

U.S. family wealth totaled $67 trillion in 2013.

But slices of that pie were far from equal, according to a report released Thursday from the Congressional Budget Office.

The top 10% of families — those who had at least $942,000 — held 76% of total wealth. The average amount of wealth in this group was $4 million.

Everyone else in the top 50% of the country accounted for 23% of total wealth, with an average of $316,000 per family.

That leaves just 1% of the total pie for the entire bottom half of the population.

The average held was $36,000 for families that fell in the 26th to 50th percentiles. But if they fell in the bottom quarter, they had zero wealth and in fact, were $13,000 in debt on average, CBO found.

Age and education made a difference in wealth accumulation.

Not surprisingly, wealth was higher for households headed by someone 65 or older. Median wealth for these families was $211,000, or almost three-and-a-half times higher than the median for households run by someone 35 to 49.

Families run by adults with college degrees, meanwhile, had a median wealth of $202,000, or nearly four times that of families headed by someone who only had a high school diploma.

Changes in wealth over time was also very uneven across groups.

Families at the 90th percentile saw their wealth grow by 54% between 1989 and 2013.

Those at the 50th percentile only experienced a 4% rise during the same period.

And those at the 25th percentile actually saw their wealth drop by 6%.


10 thoughts on “America: The richest 10% hold 76% of the wealth

  1. Pingback: | behindertvertriebentessarzblog

  2. I really hate those Ayn Rand acolytes who worship the almighty dollar. “You can’t tax the rich; that’s STEALING money from them.” Well, buttercup, the assholes STOLE the money from the less well-off, so recovering it is NOT stealing it. White ‘conservatives’ suck the dick of capitalism, much like Hillary sucks the dicks of niggers to get their votes.

      • I see where she got “Ayn” from. There’s probably some numerological significance to it. I’ve had a few debates, on line, with “objectivist” morons. Richest 10% hold 76% of the wealth? How about the richest 1% hold about 50% of the wealth, but they “earned” it.

      • I found this:

        Born Alisa Rosenbaum, Ayn Rand changed her name after moving to the US in 1926. When said correctly, Ayn should rhyme with “line.”

        Been calling her “Ann” or “Ian” all these years? According to the book “Letters of Ayn Rand,” edited by Michael Berliner, Rand was addressing questions about her name as far back as 1937. In response to a fan’s letter that year, she wrote:

        “… I must say that ‘Ayn’ is both a real name and an invention. The original of it is a Finnish feminine name … Its pronunciation, spelled phonetically, would be: ‘I-na.’ I do not know what its correct spelling should be in English, but I chose to make it ‘Ayn’ eliminating the final ‘a.’ I pronounce it as the letter ‘I’ with an ‘n’ added to it”

        At any rate, I’ve argued with them, too. They are as fundamentally fanatical as any other cult, and yes, Objectivism IS a cult. Assholes.

    • It looks like the jew owned federal reserve is finally getting a little more mainstream traction. I completely agree that much of what is earned is stolen from the little people via the printing press. The fed actually had the gaul to open a FB page. Zerohedge hysterically nailed them instantly.

      Arrest the bankers and confiscate their assets.

  3. “if they fell in the bottom quarter, they had zero wealth and in fact, were $13,000 in debt on average”.
    So 25% of Americans are not only bankrupt they are $13,000 in debt. The next 25% seem to have about zero also.
    How can Trump win if these numbers are true?
    (((Bernard Sanders))) would be the next President of the Unintended Democratic Republic of America (UDRA) as head of the Utopian Unicorn Party (UUP), if democracy actually existed in the USA. Only the 1% rich, the (((2%))), the 2% Queers and mentally deranged, and a lot of darkies plus white SJWs and the (((MSM))) want Hillary.
    The fact that the poor are not forced to vote is a very good thing in the USA. In Australia everyone must vote even bludging scum and Abos. This helps lefties, the Labor party. Only criminals in jail get to not vote.

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