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Wealth Distribution
Top 1% wealth distribution
Top 1% wealth distribution
As of the second quarter of 2021, the top 1% of Americans by income had an aggregate net worth of $36.2 trillion, edging out the aggregate net worth of the middle 60% of $35.7 trillion. That's the first time the total wealth of the top 1% has been higher than the middle 60% since the Federal Reserve began tracking this data in 1989:
The Rich get Richer and their Kids get Even Richer.
The Rich get Richer and their Kids get Even Richer.
We live in a complex society, and smart people tend to figure out how to work the system so they accumulate money and assets and how to pass them on to their children. They also tend to have smart kids who compound the accumulation of wealth. On top of that, the rich can donate to PACs that will ensure that the system works in their favor.
The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—and that’s Made the U.S. less secure. If the top 1% were taxed on their SSI without a cap, it would give 6% back to the 90%, about $3 Trillion.
The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—and that’s Made the U.S. less secure. If the top 1% were taxed on their SSI without a cap, it would give 6% back to the 90%, about $3 Trillion.
$20.5 trillion
$20.5 trillion
Total debt
President Donald Trump signed a tax cut bill, centered on a plan to reduce the rate paid by large U.S. corporations from 35 percent to 21 percent.
The law also cut taxes for most individual taxpayers. The Congressional Joint Committee on Taxation estimated the measure would cost roughly $1.5 trillion over 10 years.
A later analysis by the Committee for a Responsible Federal Budget, a Washington think tank, found the cumulative impact of the law could be closer to $2.9 trillion if Congress votes to extend certain provisions, which are set to expire in different years throughout this decade.
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