Washington Post: Why the U.S. Economy Is Worse than It Seems

Even more remarkably, the top 1 percent of households now hold 31 percent of the nation’s wealth (assets minus liabilities), or $30 trillion, while the entire bottom half of the nation’s households hold only about 1 percent, or $1 trillion. That comes to $23 million per household for the top 1 percent and $18,000 in net worth per household for the bottom half.

The Trump tax cut is exacerbating these divisions, with a recent analysis by the Institute on Taxation and Economic Policy showing that in 2020, more than half of the tax cut will go to the top 5 percent of households, with only 14 percent going to the bottom 60 percent. Read more