Economy

Americans Aren't Really Worried About Rich People

I think Occupy Wall Street would have a greater impact nationwide if more Americans realized the extent of wealth inequality here. In chart form:

Americans know rich people are rich, and most Americans support raising taxes on the rich, but clearly too many of us don't know how much of the nation's wealth is owned by the rich -- and therefore we're unwilling to push for a progressive rebuild of the middle class. Instead, we worship the rich, and too many middle and lower class Americans inexplicably protect them out of some kind of aspirational idealism. But as the rich own more and more of the nation's wealth the less likely it is that the aspirational underclasses will be able to rise to the level of their heroes. No middle class, no bridge to wealth.