And as per the U.S. Census Bureau, the difference between the richest and poorest U.S. families in the last 50 years, is now the highest it has been.
The most concerning thing about this new information, says William M. Rodgers III, a professor of public policy and chief economist at Rutgers University’s Heldrich Center, is that it “clearly illustrates the inability of the current economic expansion, the longest recorded, to reduce inequality.” And among those stockholders, the wealthiest Americans possess a vast amount of that interest. Nonetheless, according to an analysis by NYU economist Edward Wolff, the top 1 per cent of U.S. income families now own approximately 38 per cent of all stock shares. The wealthiest Americans have made the most significant wealth gains in recent years.
Industry News Today, December 7, 2019