Tuesday, November 11, 2014

The 1% club

The rich keep getting richer, and apparently whole true when it comes to estimates of their wealth. While the top  percent of U.S earners had been thought to control 30 percent of the country's total wealth, it turns out that might be a lowball estimate, according to a new working paper from a European Central Bank senior economist. There may be a problem with that 30 percent figure, given that wealthier households are less likely to respond to surveys about their assets than lower income families. I recently read on Forbes List, they estimated that share of wealth controlled by America's top 1 percent is between 35 percent and 37 percent. Please tell how crazy this estimate sound what about the rest of us. I greatly invested in my future by going back to school to get a better education, would that give me an opportunity to be part of that one percent? Nahhhh!!!

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