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400 Wealthiest Americans = 62% of Wealth in America

The poorest 47% of Americans have no wealth

In 1983 the poorest 47% of America had $15,000 per family, 2.5 percent of the nation’s wealth.

In 2009 the poorest 47% of America owned ZERO PERCENT of the nation’s wealth (their debt exceeded their assets).

At the other extreme, the 400 wealthiest Americans own as much wealth as 80 million families – 62% of America. The reason, once again, is the stock market. Since 1980 the American GDP has approximately doubled. Inflation-adjusted wages have gone down. But the stock market has increased by over ten times, and the richest quintile of Americans owns 93% of it.

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