Wealth Concentration in the US – more of the same

October 2024

The US Congressional Budget Office has updated it findings on wealth inequality.

 

Since 1989 the top 10%’s share of wealth has increased from 56.5% to 60.1% in 2022. As usual the top 1% did even better with its wealth share gaining 4.4% over the same time period.

Meanwhile the bottom 50% of the population remain stuck at a 6.4% share of the country’s total wealth. Not shown here is the fact that much of that wealth is future Social Security payments. Also not shown here is the portion of the bottom 50% whose wealth is actually a negative number.

Excluding Social Security Makes the Picture Worse