HISTORY
THE WORLD BETWEEN THE WARS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The statement is mostly true.
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The statement is false.
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The statement is true.
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The statement is a form of propaganda.
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Detailed explanation-1: -The accumulation of wealth enables a variety of freedoms, and removes limits on life that one might otherwise face. Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 32.3% of the country’s wealth, while the bottom 50% held 2.6%.
Detailed explanation-2: -10 percent of the richest people in the United States own almost 70 percent of the country’s total wealth. As of Q1 of 2021, the top 10 percent held 69.8 percent of total U.S. net worth (which is the value of all assets a person holds minus all their liabilities).
Detailed explanation-3: -At the 10th percentile, 10% of the households had income at or below $15, 660 in 2021, a decline of 4.4% from 2020 ($16, 386). However, at the 90th percentile, 10% of households in 2021 had income above $211, 956, not statistically different from the 2020 estimate of $211, 438.
Detailed explanation-4: -To be in the top 10%, a family needed $1.22 million or more (slightly less than in 2016). Together, these roughly 12.9 million wealthy families owned 76% of total household wealth in 2019.