According to new research by Emmanuel Saez and Gabriel Zucman, the richest one-hundredth of one percent of Americans now hold eleven per cent of the nation’s total wealth. That is a higher share than the top .01 percent held in 1929, just prior to the stock market crash that ushered in the Great Depression. And keep in mind we are speaking of the reported wealth of the top .01 percent, which is very likely a small fraction of the wealth they have secreted offshore.
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