The Forbes 400 now own about as much wealth as America’s entire black population

[G_j]

Last edited Mon Dec 7, 2015, 11:15 AM - Edit history (1)

http://fusion.net/story/241828/forbes-400-wealth-equivalent-to-black-population/?utm_source=newsletter&utm_medium=email&utm_campaign=fusion8&utm_content=2&utm_term=fusion-newsletter-241655

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Among the findings from “Billionaire Bonanza: The Forbes 400 and the Rest of Us” by the Institute for Policy Studies: At $2.34 trillion, the Forbes 400 now own about as much wealth as the nation’s entire African-American population—about 42 million people.

They also found they own more than a third of what America’s Latino population—more than 55 million people—holds.

“We believe that these statistics actually underestimate our current national levels of wealth concentration,” they write. “The growing use of offshore tax havens and legal trusts has made the concealing of assets much more widespread than ever before.”

The pair also found that:

The wealthiest-100 households also own about as much wealth as the entire African American population in the U.S.
The Forbes 400 own more wealth than the bottom-61% of the country—194 million people.
At $732 billion, the 20-wealthiest Americans­ now own more wealth than the entire bottom half of the American population combined—a total of 152 million people in 57 million households.

..more..

[Scuba]

1. No, no, inequality is not a problem. Read it right here on DU.

[raouldukelives]

2. Shocking.

What some consider a bug is to others a feature.

[MisterP]

3. gigarich: "it's a good start"