The richest 0.1 of Americans now owns a bigger share of the pie than at any time since 1929, just before the Wall St. crash.

Folks, this is unsustainable. Inequality threatens to tear apart our economy and democracy.

— Robert Reich (@RBReich) December 27, 2019

Wealth of 400 richest Americans:

2009: $1.27T
10: $1.37T
11: $1.5T
12: $1.7T
13: $2T
14: $2.3T
15: $2.3T
16: $2.4T
17: $2.7T
18: $2.9T
19: $3T

Federal Minimum Wage:

2009: $7.25
10: $7.25
11: $7.25
12: $7.25
13: $7.25
14: $7.25
15: $7.25
16: $7.25
17: $7.25
18: $7.25
19: $7.25

— Public Citizen (@Public_Citizen) January 2, 2020

Since 1970:

— Incomes of the top 1% of Americans: ⬆️$800,000

— Incomes of the top 0.1%: ⬆️$4,000,000

— Incomes of the top 0.01%: ⬆️$20,000,000

— Meanwhile, incomes of the bottom 50%: ⬆️$8,000

Tax the rich.

— Robert Reich (@RBReich) December 29, 2019

Since 1970:

— Incomes of the top 1% of Americans: ⬆️$800,000

— Incomes of the top 0.1%: ⬆️$4,000,000

— Incomes of the top 0.01%: ⬆️$20,000,000

— Meanwhile, incomes of the bottom 50%: ⬆️$8,000

Tax the rich.

— Robert Reich (@RBReich) December 29, 2019

How unequal is wealth distribution in the U.S.?

In short: very.

Federal Reserve data show the top 1% now owns nearly a third of all household wealth in the U.S. — while the bottom 50% of people own 1.9%. https://t.co/LD1nspss15

— NPR (@NPR) December 16, 2019

Recovery from the recession has seen retirement wealth accumulate almost exclusively among affluent households. While prospects for middle- and lower-income Americans’ retirement security have even deteriorated during the decade. https://t.co/dF9IqnopPt

— The New York Times (@nytimes) December 14, 2019

It’s always been weird to me that a generic “unemployment” percent is trotted out to indicate whether employment is “low” or “high”—especially now that we can see nearly half of jobs pay closer to paying nothing at all than they pay pay close to an actual living wage. https://t.co/QqbgphjJvw

— Dr. Steven W. Thrasher (@thrasherxy) December 8, 2019

By the 2016 election, the richest one-hundredth of one percent of Americans – 24,949 very wealthy people – accounted for a record-breaking 40 percent of all campaign contributions.

24,949 people in a population of 323.4 million.

Let that sink in.

— Robert Reich (@RBReich) December 5, 2019

Since 2009, the combined wealth of the members of the Forbes 400 list has more than doubled from $1.3 trillion to nearly $3 trillion.

Meanwhile, their taxable income has fallen from 27% to 23% over the same time.

They are worth more than ever, but paying less.

Tax the rich.

— Robert Reich (@RBReich) December 1, 2019

The money left behind for middle-class Americans is dwarfed by that inherited by the children of the very wealthy https://t.co/aHw3dngNh1

— Los Angeles Times (@latimes) November 30, 2019

Fraction of all US wealth owned by Boomers & Gen-Xers when the average member of each was age 35:

Boomers, 1989 21%
GenX, 2008 8%

The average Millennial turns 35 in 2023. Right now they own 3%.

There will surely be political implications.https://t.co/j1pNrt8mll

— Kurt Andersen (@KBAndersen) November 24, 2019