Chart of the Day: The Rich Are Getting Richer, The Poor Are….
The Federal Reserve’s 2013 Survey of Consumer Finances is out, and guess what? Over the past 25 years, the rich have seen their wealth skyrocket, from 44.8 percent of the total to 54.4 percent of the total. The middle class and the poor, by contrast, have seen their share of national wealth plummet from 33.2 percent to 24.7 percent.
In other words, the rich are getting richer and the poor are….well, you know. Is it any wonder that the rich don’t really want to see a lot of changes to our current economic regime? Why would they?
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