<html>
<head>
<meta http-equiv="content-type" content="text/html; charset=UTF-8">
</head>
<body text="#000000" bgcolor="#FFFFFF">
<div class="container content-width3" style="--font-size:20px;">
<div class="header reader-header reader-show-element" dir="ltr"> <font
size="-2"><a class="domain reader-domain"
href="https://www.commondreams.org/news/2019/06/14/eye-popping-analysis-shows-top-1-gained-21-trillion-wealth-1989-while-bottom-half?fbclid=IwAR1ABtCOdQ-6mnFxsOphvbvFnVyTAsKJDT1QKNwb5K4iTQ9q9zWpjR4S4i0">https://www.commondreams.org/news/2019/06/14/eye-popping-analysis-shows-top-1-gained-21-trillion-wealth-1989-while-bottom-half?fbclid=IwAR1ABtCOdQ-6mnFxsOphvbvFnVyTAsKJDT1QKNwb5K4iTQ9q9zWpjR4S4i0</a></font>
<h1 class="reader-title">'Eye-Popping': Analysis Shows Top 1%
Gained $21 Trillion in Wealth Since 1989 While Bottom Half
Lost $900 Billion</h1>
<div class="field-wrapper content-container clearfix
inline-fields" id="field-wrapper-authors">
<div class="profile-titles clearfix">by<span class="pb-byline"
itemprop="author" itemscope=""
itemtype="http://schema.org/Person"><a
href="https://www.commondreams.org/author/jake-johnson-staff-writer"
target="_blank"><span itemprop="name"> Jake Johnson,
staff writer - June 14, 2019<br>
</span></a></span></div>
</div>
</div>
<hr>
<div class="content">
<div class="moz-reader-content line-height4 reader-show-element"
dir="ltr">
<div id="readability-page-1" class="page">
<div>
<div role="main">
<article role="article">
<div>
<div>
<div>
<div>
<p>"The top one percent owns nearly $30
trillion of assets while the bottom half
owns less than nothing."</p>
</div>
</div>
</div>
<div>
<div>
<div>
<div itemprop="articleBody">
<p>Adding to the <a
href="http://gabriel-zucman.eu/uswealth/">mountain
of statistical evidence</a> showing the
severity of U.S. inequality, an <a
href="https://www.peoplespolicyproject.org/2019/06/14/top-1-up-21-trillion-bottom-50-down-900-billion/">analysis</a>
published Friday found that the top one
percent of Americans gained $21 trillion
in wealth since 1989 while the bottom 50
percent lost $900 billion.</p>
<p>"We have the worst inequality in this
country since the 1920s." <br>
—Rep. Pramila Jayapal (D-Wash.)</p>
<p>Matt Bruenig, founder of the left-wing
think tank People's Policy Project, broke
down the Federal Reserve's newly released
"<a
href="https://www.federalreserve.gov/releases/z1/dataviz/dfa/">Distributive
Financial Accounts</a>" data series and
found that, overall, "the top one percent
owns nearly $30 trillion of assets while
the bottom half owns less than nothing,
meaning they have more debts than they
have assets."</p>
<p>The growth of wealth inequality over the
past 30 years, Bruenig found, is
"eye-popping."</p>
<p>"Between 1989 and 2018, the top one
percent increased its total net worth by
$21 trillion," Bruenig wrote. "The bottom
50 percent actually saw its net worth
decrease by $900 billion over the same
period."</p>
<p><img
src="https://www.commondreams.org/sites/default/files/users/user20544/shadow.jpg"
width="561" height="502"></p>
<p>"Enormous crisis," Rep. Pramila Jayapal
(D-Wash.) <a
href="https://twitter.com/RepJayapal/status/1139506519169536002">tweeted</a>
in response to Bruenig's analysis.</p>
<p>"We have the worst inequality in this
country since the 1920s," wrote Jayapal,
co-chair of the Congressional Progressive
Caucus. "Three wealthiest people in
America have as much wealth as the bottom
50 percent."</p>
</div>
</div>
</div>
</div>
<div id="field-wrapper-copyright-cond">
<div>
<div>
<p>Our work is licensed under a Creative
Commons Attribution-Share Alike 3.0 License.
Feel free to republish and share widely.</p>
</div>
</div>
</div>
<div id="field-wrapper-fundraising">
<div>
<div>
<div>
<p> </p>
<br>
</div>
</div>
</div>
</div>
</div>
</article>
</div>
</div>
</div>
</div>
</div>
<div> </div>
</div>
<div class="moz-signature">-- <br>
Freedom Archives
522 Valencia Street
San Francisco, CA 94110
415 863.9977
<a class="moz-txt-link-freetext" href="https://freedomarchives.org/">https://freedomarchives.org/</a>
</div>
</body>
</html>