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Bernie Sanders is right: the top 0.1 percent have as much as the bottom 90 percent

21 November 2015

In his speech Sanders also cited a remarkable statistic: 0.1 percent of American families enjoy almost as much as wealth 90 percent of the rest of the country put together. In 2014 just 160,000 families - each with a net worth in excess of $20.6 million - counted themselves among the wealthiest 0.1 percent of households. Together they owned nearly as much as everyone from the very poor to the upper middle class combined - 90 percent of the country - some 145 million families in total. Those statistics are from a recent paper by Emmanuel Saez of the University of California, Berkeley and Gabriel Zucman of the London School of Economics.

This article was published online by whoar.co.nz (New Zealand) on November 21, 2015
Link to article here

Related links
Gabriel Zucman webpage
Growth Programme webpage
Gabriel Zucman CEP publications webpage

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