Top 1% of Earners Now Own More Wealth Than Entire Middle Class
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The top 1% of American earners now own more wealth than the entire middle class, controlling over 26% of total US household wealth according to Federal Reserve data.
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The middle class, representing 60% of US households, owns about 26% of all wealth, while the bottom 20% owns just 3%.
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The rich have grown far richer over the past 30 years due to booming real estate values, stock market gains, and private business growth. The top 1% first overtook the middle class in wealth in 2020.
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Economists debate the impacts of the growing concentration of wealth. While middle class incomes haven't dropped, they haven't kept pace with the mega-rich.
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Strategies for the middle class include homeownership, stock investment, and education to develop higher-income skills that are less vulnerable to automation.