[extropy-chat] Tax Burden Gap
samantha at objectent.com
Sun Aug 22 19:26:33 UTC 2004
Please clarify a bit. What are we including as "wealth" in the
statements below? Is it a static model of "wealth"?
On Aug 17, 2004, at 10:58 AM, Damien Broderick wrote:
> At 11:42 AM 8/17/2004 -0500, Kevin wrote:
>> It's always been my impression that the wealthiest Americans
>> represent such
>> a small portion of the nation that the middle class has always
>> carried the
> Look at some data.
> < In the United States, the richest 1 percent of households owns 38
> percent of all wealth. >
> <MM: What portion of the wealth is owned by the upper groups?
> Wolff: The top 5 percent own more than half of all wealth.
> In 1998, they owned 59 percent of all wealth. Or to put it another
> way, the top 5 percent had more wealth than the remaining 95 percent
> of the population, collectively.
> The top 20 percent owns over 80 percent of all wealth. In 1998, it
> owned 83 percent of all wealth.
> This is a very concentrated distribution. >
> Whether this is a good or bad thing is another matter.
> Damien Broderick
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