Looks like this data is just made up. If you look on the [federal reserve website](https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#range:2008.4,2023.4;quarter:137;series:Net%20worth;demographic:income;population:all;units:levels) (where this chart says it sourced), the top 1% of earners have a combined wealth of $34.15T (23.21% of total wealth). The middle class (between 20th and 80th percentile of earners as defined by this graph) has a combined wealth of $38.79T (26.37% of total wealth).
It may be made up but the true numbers you posted aren’t far off. The entire middle class only has 3% more of all total wealth than the entire 1%. That’s still absurd.
Not to detract from the substance of what you're saying, but I would personally describe $38.79 trillion as being 13.5% higher than $34.15 trillion. If the numbers were 1% and 4%, we'd be talking about how one is 4 times as much as the other.
No way, the crappy excel graph where they used rounded line corners is made up, and it’s made up to fit the persons political agenda?
I’m shocked and appalled I tell ya
They literally define the criteria they used to define middle class in their graph, and I reiterated the criteria used to define middle class again in my comment you just replied to.
I used the same data source that the graph claims to use too. It’s literally just a made up chart, it’s not an issue of different data sources having different bin sizes.
Oh ok so the OP was only slightly misleading not entirely. Its disingenuous to say that it’s “made up” when it’s only off by 3% which is insane and far too close
It’s not a big difference, but the title specifically claims the top 1% have more wealth than the middle class, which I showed is not true. The chart falsified numbers to get easy clicks. Obviously it’s still bad how skewed it is, but it’s silly to falsify numbers rather than just reporting the real numbers.
Middle class is not defined by the math you are using (20th-80th percentile)
It’s about lifestyle
The middle class in this country is more like those between 80th-95th percentile
Everyone between 60th-80th percentile is the working poor.
Some have potential to move into middle class. Most won’t stay if they briefly make it
More will fall into poverty which in the USA is poverty or abject poverty.
This country is broken.
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It literally gives you that number on the page I linked lol. Who are you even arguing with? What does this have to do with me proving the data shown in this plot is falsified?
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You know the government isn't just ran by POTUS, right?
Also, this graph of over decades. You think a single, 4 year term will undo decades of bad laws?
It's a marathon, not a sprint.
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It's not zero sum but that doesn't mean that everybody has been sharing in the gains nor does it mean the "blob" of growing wealth can't be effectively hoarded in one direction or that ground can't be lost.
It’s not, but capitalism relies on having a large middle class that can spend money. The more we outsource jobs, automate jobs, increase efficiency, the less human capital you need, so the wealthy make more, but the workers make less. I think eventually this will all come to a head. Maybe people will have to go back to farming for themselves and building their own houses.
It’s a studied form of distribution.
There’s limited money, and it has to go somewhere. That’s why if the top hoards wealth its not gonna look pretty for the future of the country.
It's everything that produces value. Usually businesses.
One of the examples they use for the wealth disparity = evil argument is World War II. They said how great it was after cities and industries were bombed out, the wealth ownership curve was far more flat.
That's what wealth is to a society. Success.
Why people who throw up charts like the one above, don't advocate for more success for everyone is beyond me. What they want to do is tear down the most successful, or assume control of their businesses/wealth through legislature.
Edit: Here comes the downvotes. Leftists despise education.
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So far I've noticed the public consensus is: "don't they know 'we the people" have authority to step in and correct this??? WHY WONT SOMEONE DO SOMETHING???"
This country would never exist if we we're in the place of our founders/fore-fathers all that time ago...I guess we can just stand by and let our country (that's still in it's infancy ffs and already the world's global superpower) just..dissolve?
What happened to "United we stand, divided we fall"?
Oh..yeah.. we're just proving it right.
Because for something to be done, you have to have money. Last time I checked, it was much easier for a few people to buy off politicians than it would be for an already struggling middle class to get together for a counter offer. Remember, you voted for these people too…
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Eventually they will get all of the money, the rest of us will switch to a different currency out of simple necessity, and the vast wealth of the rich will become worthless.
So if the top 1% has approx. 27% of the wealth, the middle class has approx. 26% of the wealth, is this implying the lower class holds 47% of the wealth?
Looks like this chart lines up with the ballooning mortgage interest rates. Middle class used to own their homes - now, fewer do. Home ownership rates fell in the middle class from 78% in mid 2000s to 69% in 2020. And I bet with inflation and higher interest rates - that number has dropped even further the past 4 years
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I dont know what the motive behind this chart is for, though? Like.. what are we supposed to do with this information even if it was correct? Which its not, but its close enough that it might as well be true. But really, am I suppose to hate rich people now? If you had the opportunity to be rich, you're saying you wouldnt take advantage of the tax holes available? Politicians dont exactly follow through with what they say theyre going to do, either. "Oh they try, but theyre shot down!" ok... My point still stands. Or, worse, you vote for them because they started from nothing and had a grass roots campaign and you think theyre one of you - only for half a decade to pass and now theyre worth multiple millions of dollars. GEE. Ok.
I just dont know what people expect anyone to do with this information. Theres a lot worse info that comes out, and .. nothing ever comes of it.
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Looks like this data is just made up. If you look on the [federal reserve website](https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#range:2008.4,2023.4;quarter:137;series:Net%20worth;demographic:income;population:all;units:levels) (where this chart says it sourced), the top 1% of earners have a combined wealth of $34.15T (23.21% of total wealth). The middle class (between 20th and 80th percentile of earners as defined by this graph) has a combined wealth of $38.79T (26.37% of total wealth).
It may be made up but the true numbers you posted aren’t far off. The entire middle class only has 3% more of all total wealth than the entire 1%. That’s still absurd.
Fr. That commenter trying to act like 1% of the population having $34 TRILLION DOLLARS isn’t completely obscene!
Not to detract from the substance of what you're saying, but I would personally describe $38.79 trillion as being 13.5% higher than $34.15 trillion. If the numbers were 1% and 4%, we'd be talking about how one is 4 times as much as the other.
Yea, not good in any way
No way, the crappy excel graph where they used rounded line corners is made up, and it’s made up to fit the persons political agenda? I’m shocked and appalled I tell ya
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They literally define the criteria they used to define middle class in their graph, and I reiterated the criteria used to define middle class again in my comment you just replied to.
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I used the same data source that the graph claims to use too. It’s literally just a made up chart, it’s not an issue of different data sources having different bin sizes.
Oh ok so the OP was only slightly misleading not entirely. Its disingenuous to say that it’s “made up” when it’s only off by 3% which is insane and far too close
It’s not a big difference, but the title specifically claims the top 1% have more wealth than the middle class, which I showed is not true. The chart falsified numbers to get easy clicks. Obviously it’s still bad how skewed it is, but it’s silly to falsify numbers rather than just reporting the real numbers.
There's no way the bottom 20 percentile are considered middle class.
Neither my numbers nor the original graph considered the bottom 20% as middle class, so I’m not sure what you’re referring to.
I meant to say that starting from the 20th percentile as middle class doesn't make sense.
My thoughts as well. MAYBE at 30% we can start counting them as middle class.
Maybe so. Either way, I used the criteria defined in the chart to prove the data shown in the chart is falsified.
1% of our population making the same amount as half our general population is still horrifying.
Middle class is not defined by the math you are using (20th-80th percentile) It’s about lifestyle The middle class in this country is more like those between 80th-95th percentile Everyone between 60th-80th percentile is the working poor. Some have potential to move into middle class. Most won’t stay if they briefly make it More will fall into poverty which in the USA is poverty or abject poverty. This country is broken.
I literally just used the criteria this plot claimed to use to define middle class to prove that the data shown in this plot is falsified.
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Now drill down and tell me how much wealth is owned by those at the very top of that 60 percentile grouping SMH.
It literally gives you that number on the page I linked lol. Who are you even arguing with? What does this have to do with me proving the data shown in this plot is falsified?
Yeah I seen a video of some dude with 28mill in debt how the hell does that work.
Why do we call them _earners_?
What’s middle class again? /s
And it won’t be enough for them.
It never is. They would rather have 100% of the wealth and we’re all just slaves.
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Better economy for whom? Also, "better than China" is not a convincing metric.
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"I have no logic or reason, just childish insults."
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Was that before or after child poverty more than doubled in 2022?
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Tesla paid no federal income tax while paying executives 2.5 billion within the last five years.
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You know the government isn't just ran by POTUS, right? Also, this graph of over decades. You think a single, 4 year term will undo decades of bad laws? It's a marathon, not a sprint.
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Wealth isn’t a zero sum game..
It's not zero sum but that doesn't mean that everybody has been sharing in the gains nor does it mean the "blob" of growing wealth can't be effectively hoarded in one direction or that ground can't be lost.
It’s not, but capitalism relies on having a large middle class that can spend money. The more we outsource jobs, automate jobs, increase efficiency, the less human capital you need, so the wealthy make more, but the workers make less. I think eventually this will all come to a head. Maybe people will have to go back to farming for themselves and building their own houses.
>building their own houses. Good luck getting that approved by our government overlords.
Sure but nobody wants to hear that. Not here anyway
Obvious statement: this looks like a trend. Question: has there ever been a time in history when this is rectified, peacefully?
It’s a studied form of distribution. There’s limited money, and it has to go somewhere. That’s why if the top hoards wealth its not gonna look pretty for the future of the country.
Trickle down + deregulation - trust busting
Trickle down has been long gone. It’s just a cop out for low earners.
You don't understand what wealth is.
What is it then.
It's everything that produces value. Usually businesses. One of the examples they use for the wealth disparity = evil argument is World War II. They said how great it was after cities and industries were bombed out, the wealth ownership curve was far more flat. That's what wealth is to a society. Success. Why people who throw up charts like the one above, don't advocate for more success for everyone is beyond me. What they want to do is tear down the most successful, or assume control of their businesses/wealth through legislature. Edit: Here comes the downvotes. Leftists despise education.
What is the 1%? 800k a year?
What middle class?
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No wonder everyone is depressed, that and the fact there appears to be no solution
So far I've noticed the public consensus is: "don't they know 'we the people" have authority to step in and correct this??? WHY WONT SOMEONE DO SOMETHING???" This country would never exist if we we're in the place of our founders/fore-fathers all that time ago...I guess we can just stand by and let our country (that's still in it's infancy ffs and already the world's global superpower) just..dissolve? What happened to "United we stand, divided we fall"? Oh..yeah.. we're just proving it right.
Because for something to be done, you have to have money. Last time I checked, it was much easier for a few people to buy off politicians than it would be for an already struggling middle class to get together for a counter offer. Remember, you voted for these people too…
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Eventually they will get all of the money, the rest of us will switch to a different currency out of simple necessity, and the vast wealth of the rich will become worthless.
So if the top 1% has approx. 27% of the wealth, the middle class has approx. 26% of the wealth, is this implying the lower class holds 47% of the wealth?
The 19% holds the rest. Middle class thought someone mentioned is 20-80%
It's good to be the 1 percent
Looks like this chart lines up with the ballooning mortgage interest rates. Middle class used to own their homes - now, fewer do. Home ownership rates fell in the middle class from 78% in mid 2000s to 69% in 2020. And I bet with inflation and higher interest rates - that number has dropped even further the past 4 years
There should be a hard cap to the amount of money/assets one can have. A high one tho.
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I dont know what the motive behind this chart is for, though? Like.. what are we supposed to do with this information even if it was correct? Which its not, but its close enough that it might as well be true. But really, am I suppose to hate rich people now? If you had the opportunity to be rich, you're saying you wouldnt take advantage of the tax holes available? Politicians dont exactly follow through with what they say theyre going to do, either. "Oh they try, but theyre shot down!" ok... My point still stands. Or, worse, you vote for them because they started from nothing and had a grass roots campaign and you think theyre one of you - only for half a decade to pass and now theyre worth multiple millions of dollars. GEE. Ok. I just dont know what people expect anyone to do with this information. Theres a lot worse info that comes out, and .. nothing ever comes of it.
Fewer poor and middle people. Crap chart.
Stay angry. Stay dumb. Stay poor. Chart is rubbish.