The Gap

Last Tuesday the Wall Street Journal had a article covering a new Federal Reserve report explaining that the richest 10 percent of families in the US hold 69.5 percent of the wealth. This 10 percent does not include the Forbes 400 (Bill Gates, Warren Buffet, etc.). The second richest 15 percent (includes people holding $93,100 to $831,600) control 17 percent of wealth. That means that 86.5 percent of the wealth is held by the upper classes. Again this excludes the 400 richest people. The article goes on to explain that there is a "persistent widening of the gap between annual incomes of rich and poor."