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by DuskStar
2402 days ago
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Unfortunately for that argument, the vast majority of white wealth is not in the hands of the middle-upper class, and I highly doubt that the wealth of the 1% (or .1%) is mostly in homes and land inheritance. And if you're counting "middle-upper" as 80-95%, I think the top 5% has ~70% of the total wealth in the US... (for reference, 95th percentile is ~2.5m, or comfortably above your 500k-1m baseline. 1m is 88th percentile, 500k is 80th) (And in any case, my point was just that it wasn't shown as causation in the stats you cited) |
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You are correct on that point. More than 50% of the 100$ trillion is held by the top 10%.
On the other point, my point is the first $500k to 1million of wealth was due to inheritance... not the total wealth of the 1%.
Follow up: At one point, any white male could move westward and get free land (whether indegeous owned or not). 40-100 acres after a century+ of property value appreciation is quite a bit of wealth. The $500k-1m number I use as a baseline for white wealth is very conservative.