Inequality, the money shot

by fp on March 16, 2010

in Wealth disparities

I don’t care if you call them plutocrats, oligarchs, or simply shareholders, the very rich are different from you and me. It makes little difference whether their wealth is inherited, stolen, or honestly earned through their own good efforts, the rich in America have certain advantages over their poorer brethren. Life expectancy might be the most dramatic indicator. In every age group, the rich have a longer life expectancy than the poor and since 1980 the gap between rich and poor has widened. Is anyone surprised?

The wealthiest ten percent of Americans hold 96% of the nation’s wealth leaving 4% for the rest of us. Among the rich, 14,000 families qualify as super-rich. This 0.01% of the population holds over 22% of the nation’s wealth.

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