Gabriel Zucman, posting on Bluesky,
The pace at which US wealth concentration is rising is simply staggering.
And he shared this graph showing that the 19 richest Americans now account for nearly 2% of all U.S. wealth (or, you know, like, the equivalent of an entire state’s wealth).
While I agree this is an appalling concentration of wealth, I’d argue the focus on the top 0.00001% risks missing the point. We could redistribute the wealth of all those individuals and we still wouldn’t make a dent in the overall wealth disparity in this country.
The real problem is that the bottom 50% controls virtually no wealth while the top 10% controls nearly 70% of U.S. wealth. That is the concentration of wealth that needs to be addressed.
