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by arrosenberg
1 day ago
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https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr... Since 1990 the top 1% of wealth holders have seen their share of the wealth increase significantly, almost entirely on the backs of the middle class (and to a lesser extent, the upper-middle class). The middle/upper middle class may have more collectively than the wealthy, but this is why the middle feels materially poorer and more reactionary than they were 30 years ago. They are being outcompeted in housing (unfairly, by people with vastly more wealth) and are being overcharged and underdelivered on medical care, education and food. The rich need to be taxed back down to a reasonable share of wealth (<20%) or the politics of the country will continue to be unstable because the masses will continue to vote for change, every election, in search of that outcome. |
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