Changes in US Wealth Distribution 1989-2019

[georgephillip]

"How Did the Distribution of Wealth Change From 1989 to 2019?​

"Wealth became less equally distributed over the 30-year period.

"The share of total wealth held by families in the top 10 percent of the distribution increased from 63 percent in 1989 to 72 percent in 2019, and the share of total wealth held by families in the top 1 percent of the distribution increased from 27 percent to 34 percent over the same period, CBO estimates.

"By contrast, the share of total wealth held by families in the bottom half of the distribution declined over that period, from 4 percent to 2 percent."

Families in the bottom half lost 2% over 30 years which means the bulk of the wealth transfer went from the US middle class to the richest ten percent; what will the next 30 years bring for 90% of Americans?

Trends in the Distribution of Family Wealth, 1989 to 2019.

 

[Toddsterpatriot]

Damn that Internet!!!

I don't know who to blame more.....Clinton or Gore.

 

[sparky]

~S~

 

[Mikeoxenormous]

"How Did the Distribution of Wealth Change From 1989 to 2019?​

"Wealth became less equally distributed over the 30-year period.

"The share of total wealth held by families in the top 10 percent of the distribution increased from 63 percent in 1989 to 72 percent in 2019, and the share of total wealth held by families in the top 1 percent of the distribution increased from 27 percent to 34 percent over the same period, CBO estimates.

"By contrast, the share of total wealth held by families in the bottom half of the distribution declined over that period, from 4 percent to 2 percent."

Families in the bottom half lost 2% over 30 years which means the bulk of the wealth transfer went from the US middle class to the richest ten percent; what will the next 30 years bring for 90% of Americans?

Trends in the Distribution of Family Wealth, 1989 to 2019.

I sure am glad i am not one of the stupid people to have fallen for that crap. If you say you have been victimized, you can never work yourself to prosperity, as someone (usually Marxists) must of gotten in your way and prevented you from achieve your God's gift to succeed.

In 1989, i was working for Home Depot at 7 bucks an hour but investing 10% of my annual income to buy stock. My wife was worried about market crashes, and i told her that if the stock goes down, i will buy more. Today i own over 35,000 shares of HD along with other energy stocks, and pharma stocks. I am in the top 10 percent.

Why is it that people are willing to give up their hard earned money to buy "STUFF" they dont really need, but have to keep up with the Jones's. Most people live paycheck to paycheck, because they dont want to take the risk in investments. Safe money is money lost with inflation....

 

[Mikeoxenormous]

Damn that Internet!!!

I don't know who to blame more.....Clinton or Gore.

Income Inequality Worse Under Obama Than George W. Bush

Income Inequality Worse Under Obama Than George W. Bush

www.huffpost.com

 

[Harpy Eagle]

I sure am glad i am not one of the stupid people to have fallen for that crap. If you say you have been victimized, you can never work yourself to prosperity, as someone (usually Marxists) must of gotten in your way and prevented you from achieve your God's gift to succeed.

In 1989, i was working for Home Depot at 7 bucks an hour but investing 10% of my annual income to buy stock. My wife was worried about market crashes, and i told her that if the stock goes down, i will buy more. Today i own over 35,000 shares of HD along with other energy stocks, and pharma stocks. I am in the top 10 percent.

Why is it that people are willing to give up their hard earned money to buy "STUFF" they dont really need, but have to keep up with the Jones's. Most people live paycheck to paycheck, because they dont want to take the risk in investments. Safe money is money lost with inflation....

Wow, how exciting another multi millionaire in our midst. It is shocking how many of those are on this forum.

 

[Harpy Eagle]

"How Did the Distribution of Wealth Change From 1989 to 2019?​

"Wealth became less equally distributed over the 30-year period.

"The share of total wealth held by families in the top 10 percent of the distribution increased from 63 percent in 1989 to 72 percent in 2019, and the share of total wealth held by families in the top 1 percent of the distribution increased from 27 percent to 34 percent over the same period, CBO estimates.

"By contrast, the share of total wealth held by families in the bottom half of the distribution declined over that period, from 4 percent to 2 percent."

Families in the bottom half lost 2% over 30 years which means the bulk of the wealth transfer went from the US middle class to the richest ten percent; what will the next 30 years bring for 90% of Americans?

Trends in the Distribution of Family Wealth, 1989 to 2019.

What is interesting is the difference between what is needed to be in the top 10% for income and for wealth.

Who Are the Top One Percent by Income or Net Worth in 2024? - DQYDJ

You hear about them often - but who are the top one percent? See stats for top one percent for income & net worth in America in 2024.

dqydj.com

A mere 212,000 puts a family in the top 10% for income while it takes wealth of 1.2 million.

 

[georgephillip]

I sure am glad i am not one of the stupid people to have fallen for that crap. If you say you have been victimized, you can never work yourself to prosperity, as someone (usually Marxists) must of gotten in your way and prevented you from achieve your God's gift to succeed.

In 1989, i was working for Home Depot at 7 bucks an hour but investing 10% of my annual income to buy stock. My wife was worried about market crashes, and i told her that if the stock goes down, i will buy more. Today i own over 35,000 shares of HD along with other energy stocks, and pharma stocks. I am in the top 10 percent.

Why is it that people are willing to give up their hard earned money to buy "STUFF" they dont really need, but have to keep up with the Jones's. Most people live paycheck to paycheck, because they dont want to take the risk in investments. Safe money is money lost with inflation....

Income Percentile Calculator for the United States

Why do you think one anecdotal claim disproves anything in my OP?

You may or may not have achieved the "success" you've claimed by gambling in the secondary stock market, but millions of other Americans have not while a greedy few (who regard your alleged earnings" as "chump change" prosper at an unprecedented rate.

"Total Family Wealth​

"In 2019, total family wealth in the United States—that is, the sum of all families’ assets minus their total debt—was $115 trillion.

"That amount is three times total real family wealth in 1989.

"Measured as a percentage of the nation’s gross domestic product, total family wealth increased from about 380 percent to about 540 percent over the 30-year period from 1989 to 2019, CBO estimates."

Trends in the Distribution of Family Wealth, 1989 to 2019.

 

[Mikeoxenormous]

Income Percentile Calculator for the United States

Why do you think one anecdotal claim disproves anything in my OP?

You may or may not have achieved the "success" you've claimed by gambling in the secondary stock market, but millions of other Americans have not while a greedy few (who regard your alleged earnings" as "chump change" prosper at an unprecedented rate.

"Total Family Wealth​

"In 2019, total family wealth in the United States—that is, the sum of all families’ assets minus their total debt—was $115 trillion.

"That amount is three times total real family wealth in 1989.

"Measured as a percentage of the nation’s gross domestic product, total family wealth increased from about 380 percent to about 540 percent over the 30-year period from 1989 to 2019, CBO estimates."

Trends in the Distribution of Family Wealth, 1989 to 2019.

I remember a while ago, a very well educated economist who said "if you gave 1000 people all the same amount of money, within two years, there would be 5 very wealthy people, 200 rich people, 500 living day to day, and the rest poor as shit". It is human nature because there are those who work their asses off to provide goods and services and there are those Marxists who are lazy as shit, but demand that the rest of us take care of them.. I have the lazy ass fuckers.

 

[fncceo]

What concerns me a lot more than wealth disparity is attractiveness disparity ...

It is morally wrong that Jon Hamm or Gal Gadot gets to look the way they do while many other men and women, through no fault of their own, looking like this!

We need to immediately start a government program to make sure that no one is allowed to look any better than Tom Arnold and Rosanne Barr.

 

[Toddsterpatriot]

Wow, how exciting another multi millionaire in our midst. It is shocking how many of those are on this forum.

How few people in the US have $1 million in assets?

 

[Flash]

"How Did the Distribution of Wealth Change From 1989 to 2019?​

"Wealth became less equally distributed over the 30-year period.

"The share of total wealth held by families in the top 10 percent of the distribution increased from 63 percent in 1989 to 72 percent in 2019, and the share of total wealth held by families in the top 1 percent of the distribution increased from 27 percent to 34 percent over the same period, CBO estimates.

"By contrast, the share of total wealth held by families in the bottom half of the distribution declined over that period, from 4 percent to 2 percent."

Families in the bottom half lost 2% over 30 years which means the bulk of the wealth transfer went from the US middle class to the richest ten percent; what will the next 30 years bring for 90% of Americans?

Trends in the Distribution of Family Wealth, 1989 to 2019.

The stupid greedy envious Libtards always hate it when somebody makes more money than they do.

 

[Harpy Eagle]

How few people in the US have $1 million in assets?

Seems less than 90% of the country.

 

[Toddsterpatriot]

Seems less than 90% of the country.

Less than 90%? Can you be any more precise?

Is it 89%?

 

[Harpy Eagle]

Less than 90%? Can you be any more precise?

Is it 89%?

No, I cannot. The link I posted said it takes 1.2 million in wealth to be in the top 10%.

 

[Toddsterpatriot]

No, I cannot. The link I posted said it takes 1.2 million in wealth to be in the top 10%.

More than 10% of Americans are millionaires?

 

[Harpy Eagle]

More than 10% of Americans are millionaires?

According to the link I posted. If you do not like their numbers you can take it up with them.

 

[Toddsterpatriot]

According to the link I posted. If you do not like their numbers you can take it up with them.

More than 10%.......that's a lot of millionaires.

 

[Harpy Eagle]

More than 10%.......that's a lot of millionaires.

Remember that is family wealth, not an individual.

There is really not all that much to being a millionaire these days.

According to this site there are more than 400,000 401k millionaires. The wife and I are not all that far from it when you add our accounts together.

Record 401k Balances, Contributions, Millionaires at Fidelity

Fidelity Investments reports record 401k account balances, contributions and millionaires in its just-released Q4 2021 year-end analysis.

401kspecialistmag.com

 

[Toddsterpatriot]

Remember that is family wealth, not an individual.

There is really not all that much to being a millionaire these days.

According to this site there are more than 400,000 401k millionaires. The wife and I are not all that far from it when you add our accounts together.

Record 401k Balances, Contributions, Millionaires at Fidelity

Fidelity Investments reports record 401k account balances, contributions and millionaires in its just-released Q4 2021 year-end analysis.

401kspecialistmag.com

Not all that much.

So why were you surprised there are some on this site?