Tuesday, October 05, 2010

U.S. wealth distribution--it's probably not what you think

Fact: The bottom 20% of the people of the U.S. have almost no wealth (0.1%). (Actually, the bottom 40% have almost no wealth (0.3%).)  The top 20% own 84%.)

Fact: Most people think the bottom 20% own 3 to 5% of the wealth.

Is it any wonder there is such outrage against government programs against poverty? People think poor people aren't really poor.

Source: http://www.good.is/post/americans-are-horribly-misinformed-about-who-has-money

Original paper: http://www.people.hbs.edu/mnorton/norton%20ariely%20in%20press.pdf

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