20% of the wealthiest Americans own 85% of all the wealth in the country. The next 20% own 10% of all wealth, and the remaining 5% is owned by the rest of the population. The poor own nothing.
The interesting finding of the paper researching people’s perceptions of wealth is that people generally think the wealth of Americans is spread much more evenly. The reality is much more skewed in favor of the ultra rich than people think. The policy making implications are probably quite detrimental to the majority of people in this country.
The chart is a perfect illustration of how the American Dream is only for the few, and how the trickle up economy benefits those who already have rather than those who never will have anything.
-TPP
