New data released by the Federal Reserve details that the rich own most of everything, while the poor are stuck with most of the debts.
The top 1% hoard a reported $32.5 trillion, more than 30% of the wealth in the country.
And the bottom half of the US population hold about 1.3% of the country’s wealth.
The poorest in the US own a disproportionate share of debt. The poorest 50% have $5.6 trillion in debts and financial liabilities. While the top 1% have just a fraction of that amount, at around $633 billion in liabilities.
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