New Data on Outrageous US Wealth Disparity

New data released by the Federal Reserve details that the rich own most of everything, while the poor are stuck with most of the debts.

The top 1% hoard a reported $32.5 trillion, more than 30% of the wealth in the country. 

And the bottom half of the US population hold about 1.3% of the country’s wealth. 

The poorest in the US own a disproportionate share of debt. The poorest 50% have $5.6 trillion in debts and financial liabilities. While the top 1% have just a fraction of that amount, at around $633 billion in liabilities.

 

 

Photo: “Business Scum” by Montecruz Foto is licensed under CC BY-SA 2.0

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