shine trader live reports:
As of the second quarter of 2021, the total net assets of the top 1% of households in the United States were $36.2 trillion, exceeding the $35.7 trillion held by middle-class families. This is the first time since the Federal Reserve began tracking the data in 1989 that the wealth of 1% of the rich exceeds that of 60% of the middle class.
According to the Census Bureau, there are nearly 130 million family units in the United States. The number of middle-class families with an income of $27000 to $141000 is about 77.5 million, accounting for 60% of the total number of families in the United States. The number of rich families with an annual income of more than 500000 US dollars is about 1.3 million, accounting for 1% of the total number of families in the United States.
In fact, since the beginning of the epidemic, the total wealth of the top and middle has increased, but the wealth of the top has increased more significantly.
After the stock market crash in March last year, the wealth of the top-level Rich increased significantly, and the wealth of 1% of the top-level increased by $4 trillion, which exceeded the total wealth held by 50% of Americans at the bottom of social wealth that year. A report shows that since the beginning of the epidemic, the collective net assets of American billionaires have increased by $1.8 trillion.
It is worth mentioning that in the past five years, it has become more and more difficult for ordinary American families to accumulate wealth. Jason Furman, former chairman of the White House Economic Advisory Committee and chief economist of the Obama administration, found that from 1943 to 1973, the income of ordinary American families doubled every 23 years. But in the past 50 years, it will take 100 years to double income.
Alexandria ocasio Cortez, a member of the US House of Representatives, wrote on twitter that “we are in a crisis of absolute inequality”.
The Democratic Party has formulated a number of tax increases for the top-level rich to offset the spending of the $3.5 trillion infrastructure package.
In addition, an analysis by the tax policy center found that if the Democratic Party’s tax plan is passed, the rich with the highest income of 1% will pay an additional tax of $160000, and the rich with the top 0.1% will pay an additional tax of $1.1 million.
Reprint indicated source：Shine Trader Limited Live information