Summary: Reading Time: 2 minutesWho are the top 1% in America? Probably not who you think they are.<br> The photo below was captured at the University of Arkansas during the Occupy Wall Street movement in 2011. The banner was hung by a fraternity on campus. Across the street you can see the self appointed representatives of the 99% yelling at the fraternity house. What I really enjoy about the photo is that at least one of these groups is incorrect in their self appointed designations when it comes to inequality in America.<br> <br> <br> This episode is Part 9 in my podcast series on Economic Inequality in America. This episode explores the question “who is the top 1% in America.” What does it take to be super rich?<br> When people talk about the super rich and inequality in America they frequently miss the point and true facts of the matter. For example, income has very little if anything to do with inequality when we are talking about the top 1% in America. They don’t draw their riches from a paycheck. Their riches are defined by wealth. And wealth is something that all of the poor, most of the middle class and even some of the regular rich (top 10%) don’t have as much of a hold upon as the super rich do.<br> <br> * <a href="https://www.businessinsider.com/charts-facts-about-global-wealth-2011-10">00.5% of the world’s richest elite</a> own 38.5% of its wealth<br> * <a href="https://www.businessinsider.com/richest-people-in-the-world-facts-oxfam-report-2018-1">The 3 richest men in the US own as much wealth</a> as the bottom 50% of Americans (160 million people)<br> * The world’s 500 richest people within the 1% are expected to pass down more than $2.4 trillion to their heirs over the next 20 years<br> * <a href="https://www.oxfamamerica.org/explore/stories/richest-1-percent-captured-82-percent-of-wealth-created-last-year-while-poorest-half-of-the-world-got-nothing-1/">In 2017 the 1% captured 82% of the world’s wealth while the world’s poorest 50% gained nothing</a><br> * <a href="https://www.euronews.com/2018/01/22/oxfam-42-super-rich-hold-same-wealth-as-world-s-poorest-3-7-bln">42 of the world’s richest people (those in the 1%) hold as much wealth as the world’s poorest 3.7 billion people</a><br> <br> The 1% do not look at money the same way the rest of us do and they also do not live by the same rules which the rest of us live by.<br> Then there is a group who talk about much less often because they have not been made infamous by the chants of protesters.<br> <br> * <a href="http://time.com/money/5054009/stock-ownership-10-percent-richest/">They 10% richest Americans own 84% of the stocks in America’s investment system. </a><br> * <a href="https://billmoyers.com/story/top-10-percent-wealth/">The top 10% richest Americans own 77% of America’s wealth</a><br> <br> To really understand economic inequality in America it is important that we understand who the super rich really are. The top 1% in America are frequently not who we think they are. They are hidden from most of us. Even the top 10% in America are far more influential and powerful than we often realize.<br> <br> This is part of my <a href="https://wp.me/p2iDfo-1su">Complete Guide to Understanding Inequality in America</a>. Check it out for more podcast episodes, infographics and articles and on this topic. Check out all of my<a href="http://www.theendofhistory.net/essential-guides-to-gain-a-better-understanding-of-the-world/"> expert topic guides</a> on other topics as well. <br>
