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Comment by scottjad

"The richest 1% of Americans control over 1/3 of the wealth, leaving the bottom 80% with less than 1/5."

This suffers from the pie fallacy covered in http://www.paulgraham.com/wealth.html

Also if you look at http://sociology.ucsc.edu/whorulesamerica/power/wealth.html table 3 you'll see that the distribution of wealth between 1% and 99% in 2007 (which I assume is pretty much the same today) was essentially identical to that of 2001, 1989, 1965, 1939 and 1922.

parent scottjad 15 years ago

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