Would The Economy Gain From Spreading Inherited Wealth?

The widespread belief that the rich grew richer in the past decade has received dramatic confirmation in a newly released study by government researchers. The study estimates that the top 1% of families--totaling less than a million households--increased their share of the nation's total private wealth by a startling five percentage points in just six years, from 31.3% in 1983 to 36.2% in 1989. Indeed, by the end of the decade, their net worth of $6.14 trillion was almost a fifth higher than the entire net worth of the bottom 90% of families.

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