alt Hacker News> This country doesn’t build anything anymore and we are concentrating all the wealth and power into the hands of a few. This leaves the top 1% getting richer every year and the bottom 99% fighting over a smaller piece of the pie every year.
Wouldn't say this is an accurate description of the US economy.
https://realtimeinequality.org/?id=wealth&wealthend=03012023...
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greedo • today at 1:10 AM
When I graduated HS in 1982, the top 1% had 34.7% percent of the wealth. Today, the top 1% has 71.1%. So yeah, I'd say he's spot on. There have been a few dips and valleys, but the trend line is pretty strong.
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That link supports the thesis if everything?
Top 0.01%, +9.1%
Top 0.1%, +13.9%
Top 1%, +15.2%
Top 10%, +6.1%
Middle 40%, -6%
Bottom 50%, -0.1%
This supports exactly GP's two statements:
> we are concentrating all the wealth and power into the hands of a few.
Correct, their slice of the pie is growing, the bottom 90%'s is shrinking
> This leaves the top 1% getting richer every year and the bottom 99% fighting over a smaller piece of the pie every year.
Also correct, the biggest growth of share being in the top 1% segment.