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I bought the book, Generational Housing: Myth or Mastery, for some research I'm doing for work. Get this: Over the past 20 years, there has been an increasing disparity in the distribution of wealth [emphasis mine]. In 2001, those in the top 20% of the population had 86% of net worth in the country. They have on average over 500 times as much as those in the bottom 40%, whose average total net worth was $2,900.Income [emphasis mine], however, is not nearly so unequally distributed, with the top 20% having only 10 times the income on average of the bottom 40%. What they don't say about income, as they do with wealth, is that the disparity between high and low is increasing. But we always hear about the wealth disparity as an argument for higher income taxes. Remember: it's income tax, and not wealth tax.Got that? |
by Brett Rogers, 7/22/2008 10:25:43 PM
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