It sounds like the wealthy really needed those tax cuts
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The USA, a land of Lords and Serfs.
The top 20 percent owns over 80 percent of all wealth. In 1998, it owned 83 percent of all wealth.
The top 5 percent own more than half of all wealth.
In 1998, they owned 59 percent of all wealth. Or to put it another way, the top 5 percent had more wealth than the remaining 95 percent of the population, collectively.
What is remarkable is that this was not always the case. Up until the early 1970s, the U.S. actually had lower wealth inequality than Great Britain, and even than a country like Sweden. But things have really turned around over the last 25 or 30 years. In fact, a lot of countries have experienced lessening wealth inequality over time. The U.S. is atypical in that inequality has risen so sharply over the last 25 or 30 years.
http://multinationalmonitor.org/mm2003/03may/may03interviewswolff.html
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And why is this?
Tax cuts.
In the old days the wealthy paid 70% taxes. But not anymore.
Taxes equalise the distribution of wealth.