this post was submitted on 14 Dec 2023
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Top 1% of u.s. earners now have more wealth than the middle class (media.mas.to)
submitted 2 years ago by yogthos@lemmy.ml to c/us_news@lemmygrad.ml
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cross-posted from: https://lemmy.ml/post/9299269

https://www.usatoday.com/story/money/2023/12/06/top-1-american-earners-more-wealth-middle-class/71769832007/

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[–] Trudge@lemmygrad.ml 47 points 2 years ago (1 children)

Why the rich keep getting richer, compared to everyone else, is a topic of recurring debate among the nation’s economists.

“If there were a good answer to that question, I think the policymakers in Washington would be all over it to fix it,” said Scott Hoyt, senior director for Moody's Analytics.

Just as economists don’t all agree on what is causing the rich to get richer, there is no consensus that the concentration of wealth is bad for the rest of America.

They never understand anything almost as if their jobs depend on it.