Hardware Secrets - Uncomplicating the complicated. Computer Help, Tips, How-to's, and News. The Online Guide For Musicians. MalwareTips - Your Security Advisor. DocumentSnap: Going Paperless And The Paperless Office. Speckyboy Design Magazine - Web Design News, Resources & Inspiration. How 90% of American Households Lost an Average of $17,000 in Wealth to the Plutocrats in 2016. America has always been great for the richest 1%, and it's rapidly becoming greater.
Confirmation comes from recent work by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman; and from the 2015-2016 Credit Suisse Global Wealth Databooks (GWD). The data relevant to this report is summarized here. The Richest 1% Extracted Wealth from Every Other Segment of Society These multi-millionaires effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves in 2016. While there's no need to offer condolences to the rest of the top 10%, who still have an average net worth of $1.3 million, nearly half of the wealth transfer ($1.94 trillion) came from the nation's poorest 90% -- the middle and lower classes, according to Piketty and Saez and Zucman.
That's over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich. Learn to Code and Help Nonprofits. Sacha Greif: Designer, Developer, Entrepreneur. Medium – Read, write and share stories that matter.