Wealth Inequality Permeates US Society, No Matter How You Slice It
New data on wealth distribution in the US confirms what we already knew: within all major demographic groups, whether by age, race, or education, wealth is concentrated at the top. The US is a deeply unequal society.
People participate in a “March on Billionaires” event on July 17, 2020 in New York City. (Spencer Platt / Getty Images)
The Survey of Consumer Finances (SCF) released its 2022 wealth distribution data late last week. The SCF is the nation’s preeminent survey of wealth and comes out once every three years. Below I summarize some of the wealth distribution figures that I have tracked over the years and show how that distribution could be made much more equal.
Overall Inequality
Overall, wealth inequality remains quite high. The top 10 percent of households own 73 percent of the nation’s wealth, while the bottom 50 percent of households own just 2 percent of the nation’s wealth.
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