September 19, 2003
Wealth distribution
From the economist:
Take wealth rather than income, and America's disparity is even more startling. The wealthiest 1% of all households controls 38% of national wealth, while the bottom 80% of households holds only 17%, according to the Economic Policy Institute (EPI). Around 85% of stockmarket wealth is held by a lucky 20%.
That's capitalism at work. World wide statistics show the top 1% holding even higher % of wealth. Not that there is anything wrong with it. US is the most unequal of the OECD, followed by Switzerland and socialist Canada.
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