Thread by @_cingraham

Wealth inequality in the United States is just wild:
The top 10% own 73% of the country's wealth
The middle 40% own 27%
The bottom half of the population owns -0.1%, meaning they have no wealth and are in debt to the people at the top.
wid.world/country/usa/

In France, by contrast:
Top 10% own 55% of net personal wealth
Middle 40% own 38%
Bottom 50% own 6%
wid.world/country/france/

If American wealth were distributed equally, every man, woman and child would have a net worth of $220,000. That's $880,000 for a family of four. peoplespolicyproject.org/2017/08/05/if-…

Percent of American households with zero or negative net worth:
1983: 15.5
1992: 18.0
2001: 17.6
2016: 21.2
% change, 1983 to 2016: +37%
nber.org/papers/w24085

Since 1980, the story of wealth in America is deliberate redistribution from the bottom to the top. Average wealth holdings in 2016 dollars:

Bottom 40%
1983: $6,900
2016: -$8,900 (yes, that's a negative)

Top 20%
1983: $1,273,000
2016: $2,999,000

nber.org/papers/w24085