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Wealth Inequality Back to 1920s Levels

Thanks, Reagan.

Wealth inequality in the US is at near record levels according to a new study by academics. Over the past three decades, the share of household wealth owned by the top 0.1% has increased from 7% to 22%. For the bottom 90% of families, a combination of rising debt, the collapse of the value of their assets during the financial crisis, and stagnant real wages have led to the erosion of wealth.

Link

Having just read Piketty, i'm not surprised by this. His book says the same thing. It's just depressing how little will be done to fix it. The rich will get richer and everybody else can go fuck themselves.

By min | November 13, 2014, 12:29 PM | Liberal Outrage