Thread: Socialism
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Old 02-18-2015, 11:24 AM   #53 (permalink)
Chula Vista
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Join Date: Oct 2014
Location: SoCal by way of Boston
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Wealth inequality in the United States - Wikipedia, the free encyclopedia

The rich just keep getting richer.

Quote:
Corresponding to financial resources, the wealthy strategically organize their money so that it will produce profit. Affluent people are more likely to allocate their money to financial assets such as stocks, bonds, and other investments which hold the possibility of capital appreciation. Those who are not wealthy are more likely to have their money in savings accounts and home ownership. This difference comprises the largest reason for the continuation of wealth inequality in America: the rich are accumulating more assets while the middle and working classes are just getting by. Currently, the richest 1% hold about 38% of all privately held wealth in the United States while the bottom 90% held 73% of all debt. According to the New York Times, the "richest 1 percent in the United States now own more wealth than the bottom 90 percent"
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