According to a recent Pew Research Center study, between the years of 2009 and 2011:
- Average Net Worth per Household of richest 7% INCREASED by 28%
- Average Net Worth per Household of other 93% DECREASED by 4%
- There are 8 million households in the upper 7% and their mean net worth in 2011 was $3,173,895
- Of the 111 million households in the other 93%, mean net worth in 2011 was $113,817
The richest 7% of households owned 63% of all household wealth in 2011.
The income gap is also increasing
The top 20% of earners received half of all household income.
Between 1979 and 2007
Incomes for the richest 1% increased by a whopping 275%, while
Incomes for middle 60% of Americans increased only 40%.
For Household Net Worth Data: Richard Fry and Paul Taylor “A Rise in Wealth for the Wealthy; Declines for the Lower 93%,” Pew Research Center.
For Income Data: Pauline Jelinek, Associated Press, in “Pew: 93% of households lost net worth 2009-11,” USA Today, April 23, 2013.