{"id":40136,"date":"2018-01-05T09:03:30","date_gmt":"2018-01-05T09:03:30","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=40136"},"modified":"2018-01-05T09:03:30","modified_gmt":"2018-01-05T09:03:30","slug":"30-of-families-in-the-usa-have-no-net-wealth","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/01\/05\/30-of-families-in-the-usa-have-no-net-wealth\/","title":{"rendered":"30% of families in the USA have no net wealth"},"content":{"rendered":"<p>As the <a href=\"https:\/\/ftalphaville.ft.com\/2018\/01\/04\/2197227\/eight-charts-on-inequality-in-the-us\/\" target=\"_blank\" rel=\"noopener\">FT notes this morning<\/a>, Deutsche Bank have put out a big, long, 80-page note on \u201cUS Income and Wealth Inequality\u201d. The FT borrows some of the charts. So do I.<\/p>\n<p>Thirty per cent of US families have no non-home wealth:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2018\/01\/05\/30-of-families-in-the-usa-have-no-net-wealth\/screen-shot-2018-01-05-at-08-57-13\/\" rel=\"attachment wp-att-40137\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-40137\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.57.13-550x405.png\" alt=\"\" width=\"550\" height=\"405\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.57.13-550x405.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.57.13-408x300.png 408w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.57.13-768x565.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.57.13-544x400.png 544w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.57.13.png 1240w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>Whilst the young are getting poorer:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2018\/01\/05\/30-of-families-in-the-usa-have-no-net-wealth\/screen-shot-2018-01-05-at-08-58-26\/\" rel=\"attachment wp-att-40138\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-40138\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.58.26-550x408.png\" alt=\"\" width=\"550\" height=\"408\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.58.26-550x408.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.58.26-404x300.png 404w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.58.26-768x570.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.58.26-539x400.png 539w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.58.26.png 1232w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>And the rich are getting richer:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2018\/01\/05\/30-of-families-in-the-usa-have-no-net-wealth\/screen-shot-2018-01-05-at-08-59-22\/\" rel=\"attachment wp-att-40139\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-40139\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.59.22-550x415.png\" alt=\"\" width=\"550\" height=\"415\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.59.22-550x415.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.59.22-397x300.png 397w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.59.22-768x580.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.59.22-530x400.png 530w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-08.59.22.png 1216w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>All of which is aided and abetted by tax cuts:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2018\/01\/05\/30-of-families-in-the-usa-have-no-net-wealth\/screen-shot-2018-01-05-at-09-00-53\/\" rel=\"attachment wp-att-40140\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-40140\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-09.00.53-550x413.png\" alt=\"\" width=\"550\" height=\"413\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-09.00.53-550x413.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-09.00.53-400x300.png 400w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-09.00.53-768x577.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-09.00.53-533x400.png 533w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2018\/01\/Screen-Shot-2018-01-05-at-09.00.53.png 1228w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>If anyone can find the Deutsche document (I could not, in haste) I'd be interested to see it.<\/p>\n<p>The tale is not a pretty one.<\/p>\n<p>But what will Deutsche do about it?<\/p>\n<p>Answers on the back of ten dollar bills to suitable charities please.....<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the FT notes this morning, Deutsche Bank have put out a big, long, 80-page note on \u201cUS Income and Wealth Inequality\u201d. The FT borrows<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/01\/05\/30-of-families-in-the-usa-have-no-net-wealth\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,75],"tags":[],"class_list":["post-40136","post","type-post","status-publish","format-standard","hentry","category-economics","category-usa"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/40136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=40136"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/40136\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=40136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=40136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=40136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}