Growing Income Disparity and the Middle Class Squeeze
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Description: Catholic Social Justice takes a stand against income disparity, which it says is growing fast in the US. Includes statistics.
Access to Catholic Social Justice Teaching Growing Income Disparity and the Middle Class Squeeze Our economy is marked by a very uneven distribution of wealth and income. For example, it is estimated that 28% of the total net wealth is held by the richest 2% of families in the U.S. The top 10% holds 57% of the net wealth. If homes and other real estate are excluded, the concentration of ownership of financial wealth is even more glaring. In 1983, 54% of the total net financial assets were held by 2% of all families, those whose annual income is over $125,000. Eighty-six percent of these assets were held by the top 10% of all families (US Bishops
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