The U.S. Wealth Gap

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According to data available with Bureau of Economic Affairs , the top 8 percent of wealth owners hold around 70 percent of while lowest 40 percent clinging to a mere 8 percent of the wealth While these statistics are merely grossly indicative , they show a very skewed and imbalanced economic perspective of US society Keister , and Moller (2000 ) have shown cited studies from Survey of Income and Program Participation , Panel Study of Income Dynamics along with Survey of Consumer Finances to empirically determine historical trends in wealth inequality

This studies causes of unequal income and wealth distribution , the factors influencing these causes , the pattern of income and wealth distribution and consequences from the unequal distribution of wealth

Moreover , the same elite group also experiences highest percentage increase in personal wealth , and has claims to more than 50 percent of Although at times of depression or economic bubble burst , the wealth gap gets reduced , there has never been a scenario in United States when income and wealth distribution has been in the proximity of uniformity Wealth mobility has always taken an upward curve to get congregated in the hands of those who are already possessor of its largest chunk

Where just 1 percent of population held more than 30 percent of household wealth in early 1920 ‘s and 30 ‘s , their holding increased to more than 40 percent by 1980s and 90s , notwithstanding all the welfare and socio-economic equality policies of government

Wealth inequality , thereafter , continued to rise from 1930s to 1960s , until reaching its peak in 1962 when top 1 percent of wealth owners owned nearly 35 percent of the control over more than 80 percent of the suggests that where the to 1990s

and 2 1989-2001 Historical Trends in Wealth Distribution Although the issues underlying causes of wealth gap and income inequality are very complex , the simple fact that emerges even from the preliminary analysis points towards a wealth gap that is so wide that it appears an impossible task to even marginally rationalize it

The wealth distribution is determined on following components /criteria Regular Income Tax records Fixed assets Stocks and Investments Analysis of data collected from these sources has led researches to conclusively establish the fact of huge wealth gap existing in US society along with establishing the trends in the wealth distribution over almost past 80 years

2007 Introduction While United States of America is among the more affluent and wealthy nations of contemporary world , historical trends in income and wealth distribution shows that most of the wealth has been concentrated with a very small percentage of people (Keister , and Moller , 2000

The studies wealth distribution in United States for two periods 1

In fact , United States society has maximum degree of wealth inequality among all the developed countries of world

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