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View Diary: Fiscal inequality: Godzilla vs. Ants (179 comments)

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  •  but home value does shrink the size of (1+ / 0-)
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    RenMin

    Godzilla a little bit.  I think the % of wealth for the bottom 80% doubles to about 15%.

    It seems that there has not been a huge swing in wealth distribution since 1983 on the charts.  Does anyone know how much it has changed if we go back to the 50s or 60s?

    Also, here is a link to a good article that talks about wealth inequality in the U.S., Recent Trends in Household Wealth in the United States

    •  distribution of wealth in the US has essentially (2+ / 0-)
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      StrayCat, happymisanthropy

      not changed by all that much since the 1890's.  Through the Progressive Era, World War I, the Socialists and IWW, the AFL-CIO, the Great Depression, World War II, the postwar boom, the radical 60's, the Reagan Revolution, the New Democrats, the Dubya Recession and the Obama Transformative Change, the wealthy have always managed to hold on to pretty much the same amount of wealth as always.  

      A few minor and temporary dips, at most.

      The big change in the past 15 years has been the switch from a nation-based economy to a global-based economy, which has centralized wealth and power not merely on the national scale, but the global scale.

    •  Yes, it does shrink the gap a bit. (0+ / 0-)

      That's why I think it's a bit misleading to exclude it. By way of example, think of a middle class family that's accumulated a few thousand through savings, or winning the 50/50 at the church social, or whatever. If they put that money in the bank to earn 0.1% interest, the diarist would count that as "wealth," but if they made the smarter play and used it to pay down their 5% mortgage loan, it would not count. To me, that makes no sense and results in misleading figures.

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