"The U.S. wealth gap has not widened since 1989."
Related Claims
Evidence8
A 2024 paper on Social Security wealth finds top wealth shares changed little when Social Security is included; the top 1% held nearly 24% in 2019 versus 22% in 1989.
The paper estimates accrued Social Security benefits using SCF data and adds them to household wealth.
It concludes that when Social Security is included, top wealth shares have not changed much between 1989 and 2019, noting the top 1 percent held nearly 24 percent in 2019 compared with 22 percent in 1989.
The paper estimates accrued Social Security benefits using SCF data and adds them to household wealth.
It concludes that when Social Security is included, top wealth shares have not changed much between 1989 and 2019, noting the top 1 percent held nearly 24...
The same paper reports that with Social Security included, the top 10% and top 1% shares increased only 1.1 and 1.6 percentage points between 1989 and 2019.
Using a risk-free valuation of Social Security benefits, the paper compares marketable wealth to a broader wealth measure that includes accrued Social Security.
It reports that, with Social Security included, the top 10 percent share increased by about 1.1 percentage points and the top 1 percent share by about 1.6 percentage points from 1989 to 2019, much smaller changes than marketable-wealth measures.
Using a risk-free valuation of Social Security benefits, the paper compares marketable wealth to a broader wealth measure that includes accrued Social Security.
It reports that, with Social Security included, the top 10 percent share increased by about 1.1...
CBO reports the bottom half of families held 6% of total wealth in both 1989 and 2022, indicating little change for that group over the long period.
The CBO report summarizes wealth shares for 1989 and 2022.
It states that the bottom half of the distribution held 6 percent of total wealth in 1989 and remained at 6 percent in 2022, indicating no long-run increase in that group's share of the gap.
The CBO report summarizes wealth shares for 1989 and 2022.
It states that the bottom half of the distribution held 6 percent of total wealth in 1989 and remained at 6 percent in 2022, indicating no long-run increase in that group's share of the gap.
CBO reports that from 2019 to 2022 wealth inequality changed little: the top 1% share stayed around 27% and the bottom half stayed at 6%.
The CBO report includes a pandemic-era update from 2019 to 2022.
It states that the top 1 percent share remained around 27 percent, increasing by less than one percentage point, and the bottom half share remained at 6 percent, indicating little change in inequality over that period.
The CBO report includes a pandemic-era update from 2019 to 2022.
It states that the top 1 percent share remained around 27 percent, increasing by less than one percentage point, and the bottom half share remained at 6 percent, indicating little change in...
CBO reports that excluding Social Security, the top 1% share fell from 34% in 2019 to 33% in 2022 while the bottom half share rose from 2% to 3%.
In its pandemic-era summary, CBO also reports an alternative measure excluding Social Security wealth.
It states that the top 1 percent share declined from 34 percent in 2019 to 33 percent in 2022 while the bottom half share increased from 2 percent to 3 percent, indicating a short-run narrowing on the marketable-wealth measure.
In its pandemic-era summary, CBO also reports an alternative measure excluding Social Security wealth.
It states that the top 1 percent share declined from 34 percent in 2019 to 33 percent in 2022 while the bottom half share increased from 2 percent to 3...
CBO estimates that when wealth includes Social Security benefits net of payroll taxes, the top 10% share increased only 0.6 percentage points from 1989 to 2022.
In an appendix that treats Social Security benefits net of payroll taxes as part of family wealth, CBO reports a much smaller long-run change.
Under that measure, the top 10 percent share increased by just 0.6 percentage points from 1989 to 2022, indicating little widening when net Social Security benefits are included.
In an appendix that treats Social Security benefits net of payroll taxes as part of family wealth, CBO reports a much smaller long-run change.
Under that measure, the top 10 percent share increased by just 0.6 percentage points from 1989 to 2022, indicating...
A Federal Reserve DFA update finds the top 1% share did not rise between 2016 and 2019, coming in nearly one percentage point lower in 2019, while the bottom 50% share grew more quickly since 2016.
The Federal Reserve update to the Distributional Financial Accounts incorporates the 2019 SCF.
It reports the top 1 percent share did not rise between 2016 and 2019 and was nearly one percentage point lower in 2019, while the bottom 50 percent share grew more quickly since 2016, signaling a short-run narrowing at the top.
The Federal Reserve update to the Distributional Financial Accounts incorporates the 2019 SCF.
It reports the top 1 percent share did not rise between 2016 and 2019 and was nearly one percentage point lower in 2019, while the bottom 50 percent share grew...
SCF accessible data show the top 1% share slipped from 34% in 2016 to 33% in 2019.
The SCF accessible data table lists the top 1 percent wealth share for each survey year.
It shows a decline from 0.34 in 2016 to 0.33 in 2019, indicating a small reduction at the top just before the pandemic years.
The SCF accessible data table lists the top 1 percent wealth share for each survey year.
It shows a decline from 0.34 in 2016 to 0.33 in 2019, indicating a small reduction at the top just before the pandemic years.