Wealth inequality is even greater than income inequality. NYU economist Edward Wolff has found that, while the highest-earning fifth of U.S. families earned 59.1% of all income, the richest fifth held 88.9% of all wealth.
If one looks at after-tax income, the increase in income inequality over time is greatly reduced. If one goes further and factors in the government’s attempts to redistribute income, income inequality is not increasing in the U.S. at all.
but I don't believe a lie rag like Forbes - do you?
the article pointed out that the wealthy have benefited greatly from the Fed and Obama. That is the main factor in 'inequality' but the bigger concern is those who have fallen suddenly into abject or even homeless poverty. Worst trend in many years. Where is the Hope and Change?
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