r/WorkReform • u/zzill6 🤝 Join A Union • 5h ago

🚫 GENERAL STRIKE 🚫 Wealth distribution in America is truly fucked up when there's this much difference between average and median wealth.

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798 Upvotes

100% Upvoted

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40

u/yesimreallylikethat 💸 Raise The Minimum Wage 5h ago

Wealth never trickles down; it always clogs at the top.

14

u/CapableCap632 5h ago

That's capitalism at its peak.

1

u/oneseason2000 2m ago

It takes quite a bit of for the insanely wealthy to retain so much more wealth than everyone else.

They spend huge amounts "lobbying" to get their taxes reduced, financial regulations reduced, financial enforcement personnel reduced, financial bailouts when their schemes finally flop, and sweetheart prosecution deals when they get caught and convicted. They buy media empires to spew their propaganda. They create phony charities to hide their wealth and present a false impression of compassion. They get offshore accounts to hide their wealth. They fund and control think tanks, academic endowments, and consultant shops that employ retired / failed politicians so that those politicians currently in office know that, provided they play nice now, there will be support for them after politics.

And even that isn't enough, I think. They need to have crypto currency to keep their extreme wealth growing and ensure it doesn't trickle down to us poors.

53

u/zzill6 🤝 Join A Union 5h ago

In the U.S., the average household net worth is approximately $1.06 million, while the median net worth is significantly lower at $192,900. This large gap highlights high wealth inequality; the average is dramatically pulled up by the top 1% and ultra-high-net-worth outliers.

23

u/B3rserkChime 5h ago

classic example of why median is always a much better representation of reality than average when top-heavy hoarders distort the stats.

2

u/lwright3 3h ago

I'm guessing that includes housing value, automotive, retirement packages?

2

u/annuidhir 1h ago

retirement packages?

LMAO, WTF are those??

12

u/Feralogic 5h ago

It gets super crazy once you remove the top 1% and average the bottom 99% 

5

u/Recent-Singer8146 5h ago

USA working toward being number 1…in Gini coefficient:

https://en.wikipedia.org/wiki/Gini_coefficient

4

u/alzho12 3h ago

That’s wild.

Portugal constantly gets ragged on as being the poorest Western European country…and the US is on that level.

1

u/CarpetPedals 0m ago

Average AND median? 🤷