Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/5/84; site ssc-vax.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxj!mhuxn!houxm!vax135!cornell!uw-beaver!ssc-vax!eder From: eder@ssc-vax.UUCP (Dani Eder) Newsgroups: net.politics Subject: Re: Wealth Distribution Message-ID: <243@ssc-vax.UUCP> Date: Wed, 5-Dec-84 17:23:57 EST Article-I.D.: ssc-vax.243 Posted: Wed Dec 5 17:23:57 1984 Date-Received: Thu, 6-Dec-84 07:40:09 EST References: <253@mhuxh.UUCP> Organization: Boeing Aerospace Co., Seattle, WA Lines: 51 > >When is the last time you saw ANY newspaper present information about the > >distribution of wealth in this country? Occasionally they present information > >about the distribution of income, never about the distribution of wealth. Always willing to throw some facts at a discussion, here is some data on 'wealth' in the US. The source data is the Statistical Abstract of the US, 1978 edition, with adjustment to the present for inflation and an assumed 2.7% per year increase in real wealth (this is the average historical rate). NATIONAL WEALTH -- The value of the United States and everything in it except the people is 13.75 Trillion dollars, of which 10.5 Trillion is privately owned. The major components are: Land, 3.1 Trillion; Residences, 3.2 Trillion; Other Structures, 4 Trillion; Equipment, 2 Trillion; and Households, 1.45 Trillion. PERSONAL WEALTH -- The components of personal wealth are (in Trillions) Real estate - 4.5, Stock - 2.6, Bonds - 0.5, Cash & Savings - 2.2, Debt Instruments - 0.2, Life Insurance - 0.4, Misc. - 2.5, less Debts - (-2.4). WEALTH DISTRIBUTION -- These figures are approximate and interpolated values. Real estate is assessed for tax collection, Stocks & Bonds are traded on exchanges. Hence, there is fairly accurate data on amounts. Who owns what, on the other hand, is only investigated at death for estate taxes, so the data is not as good. With those caveats, the table below gives the distribution of wealth in the US. Wealth Class Net Worth ------------Percentages-------------- (K$) of population Cum. Cum. Wealth --------------------------------------------------------------------- Superrich >7500 .1 .1 22 Very rich 4000-7500 .3 .4 39 Rich 1500-4000 .6 1 52 Very wealthy 750-1500 .8 1.8 61 Wealthy 300-750 1.2 3 66 Moderately " 175-300 2 5 71 Upper Upper 100-175 5 10 77 Upper 66-100 10 20 86 Lower Upper 52-66 5 25 90 Upper Middle 30-52 15 40 96 Middle 8-30 25 65 99 Lower Middle 0-8 20 85 100 Poor <0 15 100 100 ------------------------------------------------------------------ Dani Eder / Boeing Aerospace Company / ssc-vax!eder / (206)773-4545