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.@sc_cath @mjmill611 and @NatashaRSarin calculate that the market value of future Social Security benefits represented 49% of the wealth of the bottom 90% in 2019. Including Social Security, the wealth share of the top 1% had risen only 1.6pp since 1989. https://t.co/aDJrQav4tj https://t.co/4cgbjn5Nlw
The bottom 50% of Americans in terms of net worth only owns 1% of stocks, which is worth $41 billion, per Motley Fool.
Baby boomers have the largest share of stocks, and they're not letting go. They hold 54% of stocks, close to their highest total on record, which is valued at $21.58 trillion, per Motley Fool.
Recent research by scholars from Harvard and Yale indicates that when Social Security benefits are factored into wealth distribution, wealth inequality in the U.S. has not significantly increased over the past three decades. The study highlights that in 2019, the market value of future Social Security benefits constituted 49% of the wealth of the bottom 90% of Americans. In contrast, the wealth share of the top 1% has only risen by 1.6 percentage points since 1989. Additionally, data reveals that the top 10% of Americans own 86.9% of stocks, valued at $34.7 trillion, while the bottom 50% holds merely 1% of stocks, equating to $41 billion. The S&P 500 has surged by 57%, the Nasdaq by 47%, and the Dow by 44%, contributing to a household net worth increase of $29.4 trillion. Notably, baby boomers possess 54% of stocks, totaling $21.58 trillion, marking a near-record high.