this blog entry has been updated
I just came across this astonishing chart:
|100th Percentile||91-99th Percentile||51-90th Percentile||0-50th Percentile|
Just so this is perfectly clear:
The top one percent of wealth owners control fully 33.8 percent of the nation's total wealth.
The 91th to 99th percentile of wealth owners control another 27.7 percent of the nation's total wealth.
The 51st (middle) to 90th percentile of wealth owners control another 26% of the nation's total wealth.
The bottom 50% of wealth owners control the remaining wealth - just 2.5% of the total.
Be sure to click through to the original set of charts, which sets this in the larger context of a long trend of steadily-growing inequality, decreasing socioeconomic mobility, and steadily flattening tax rates.
Update: Here's a roughly equivalent chart for Canada, based on a 2005 StatsCan survey:
|81-100 Percentile||61-80 Percentile||41-60 Percentile||21-40 Percentile||0-20 Percentile|
It groups wealth owners in the more standard quintiles rather than the 0-50, 51-90, 91-99, 9-100 breakdown of the US study, but it seems pretty clear that the distribution isn't far off.
For example, the bottom 40% in Canada control just 2.4 percent of total wealth, compared to the bottom 50% in the US controlling just 2.5%. However, it doesn't break out what share of the top quintile is crowded up at the very top 1%.
You must be logged in to comment.