Earlier quoted context omitted.
The top earners are the heirs who collect dividends, interest and rent - the rentiers in documentaries like Born Rich. They are unwilling to work, as the real hourly wage has sank in the US since the early 1970s, they have reaped all the benefit. Far below them is a work force which is split in different skill levels. Only a handful of top school STEM majors graduate every year, then there are the rest. Since in your…
This bears no relation to reality. The overwhelming majority of the rich in Western countries are members of the executive or professional class or entrepreneurs who work for their money. http://www.theatlantic.com/magazine/archive/2011/01/the-rise... > The rich different from you and me. … today’s super-rich are also different from yesterday’s: more hardworking and meritocratic, but less connected to the nations tha…
The first link is shot through with holes, I would not know where to start. The Fed's Survey of Consumer Finances says otherwise.
The second link is obvious on the face of it - in a country with 325 million people, if you look at 11 million firms, the majority are not run by 1%ers. The data parameters make the outcome a foregone conclusion. Of course the owner of the median firm out of 11 million will be more middle class than the heirs who own a lot of stock in Walmart.