Covid Provided Cover for Greatest Transfer of Wealth — Top 1% Now Wealthier than ENTIRE middle class!
After years of declines, America’s middle class now holds a smaller share of U.S. wealth than the top 1%.
The middle 60% of U.S. households by income — a measure economists often use as a definition of the middle class — saw their combined assets drop to 26.6% of national wealth as of June, the lowest in Federal Reserve data going back three decades. For the first time, the super-rich had a bigger share, at 27%. — Bloomberg
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