Monday, December 13, 2021

Wealth and Inequality in America

First, Sharing of GDP:



Then, Division of wealth from 1980 (Reaganomics Era begins 1981):

Source:

https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality


Who has the Wealth?

In 1965 the wealth was mostly in the hands of people who made more money (as expected), but division grew because the lower-income groups did not get the same increases as the top 10% (90th percentile). This chart ends in 2016, but the steady incline shows the rich get richer and the others do NOT.

Source: https://apps.urban.org/features/wealth-inequality-charts/


We can change the economy and how the wealth is distributed. The huge gap between the top 10% (it's even worse between the top 1% and the next 9%) and the rest of the population (90% of the people) can be closed again to some more workable level.


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