What is the gap between rich and poor in the US?

Poverty in America has become a death sentence. Meanwhile, the people on top have never had it so good. The top 1% now own more wealth than the bottom 92%, and the 50 wealthiest Americans own more wealth than the bottom half of American society – 165 million people.

What percentage of USA is rich?

Since the adult US population is around 250 million, that means that just over 8% of Americans are millionaires.

Is the divide between rich and poor growing?

Economic inequality (also known as the gap between rich and poor, income inequality, wealth disparity, or wealth and income differences) consists of disparities in the distribution of wealth (accumulated assets) and income.

What is the inequality gap between the richest and poorest?

Income inequality is rising. A quarter of a century ago, the average disposable income of the richest 10% in OECD countries was around seven times higher than that of the poorest 10%; today, it’s around 9½ times higher.

Why is NYC so unequal?

Large urban areas such as New York City are now among the most unequal places, owing largely to strong demand for skill pushing up wages for those toward the top of the wage distribution.

What is the 1% in the US?

According to a recent study by personal finance website SmartAsset, an American family needed to earn $597,815 in 2021 to be in the top 1% nationally.

What is the wealth gap in America?

The top 20% of Americans owned 86% of the country’s wealth and the bottom 80% of the population owned 14%.

Why the middle-class is shrinking?

“Broad societal changes and technology and the decline of unions and the role of globalization — all these things have fit into what we observe as the shrinking of the middle class and the shift of income to upper-income households.”

What is the top 1 of income in the US?

Is the Bronx still poor?

As the third most densely populated county in the United States, the Bronx is divided into 12 community districts and is home to a 30% poverty rate. In six contiguous districts, which include an area generally referred to as the South Bronx, the overall poverty rate is even higher – twice that of New York City overall.