Friday, March 6, 2009

Trivia-in 2001, 90% of Americans collectively had a negative net worth.

What is the United State's Net Worth?

Wealth Inquality
circa 2001
p. 21or 22 of text)
50% of American families own 2.8% of it's wealth
50-90% of American families own 27.4% of it's wealth
90-95% of American families own 12.1% of it's wealth
95-99% of Americans families own 25.0% of it's wealth
99-100% of American families own 32.7% of it's wealth.

Therefore, 5% of American families own 57.7% of America's wealth as of 2001.

With that being said, the bottom 50% had a net worth of $1175 billion.
The bottom 90% had $12,779 billion.
The bottom 90% held $17074.5 billion in assets.
The reason why the assets are greater than the net worth is because of debt plus interest payables.

The total debt is $4,295.5 in billions for the lower 90%.
The total income is $17,854.5 in billions for the lower 90% which on average is $66,127.78.

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