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Surging Stock Market, Trump Policies Boost Wealth for Top 1%
- The richest 1% of Americans hold 31.9% of the nation's wealth, the highest share recorded by the Federal Reserve since 1989.
- The current wealth concentration among the top 1% is mainly driven by a stock market boom, according to economist Emmanuel Saez from the University of California, Berkeley.
- Several states, including California, have proposed new taxes on the wealthiest individuals and billionaires, with California planning a one-time billionaire tax expected to raise nearly $101 billion.
- White Americans make up 57% of the population but own 82% of the assets, while younger generations carry more debt compared to older generations holding most of the wealth.
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26 Articles
26 Articles
The spokesman-Review+24 Reposted by 24 other sources
Surging stock market, Trump policies boost wealth for top 1%
When SpaceX, Elon Musk’s rocket and artificial intelligence company, began trading on the stock market last week, he became the world’s first trillionaire.
·Spokane, United States
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Coverage Details
Total News Sources26
Leaning Left24Leaning Right1Center1Last UpdatedBias Distribution92% Left
Bias Distribution
- 92% of the sources lean Left
92% Left
L 92%
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