That can’t be accurate. The reality is way worse. The top 1% wouldn’t even be visible on the chart at that scale. What am I missing?
Comment on Enshittiflation
slaacaa@lemmy.world 10 hours ago
wonderingwanderer@sopuli.xyz 6 hours ago
AA5B@lemmy.world 4 hours ago
That it only goes up to 2021
mrgoosmoos@lemmy.ca 3 hours ago
this must be of only the working class
I’d believe that the top end of the working class has a net worth of 15 million at the start of retirement
dejected_warp_core@lemmy.world 3 hours ago
Rate of change in 2021 (last data point on this graph) is nearly vertical. Five years of that would put a lot of zeros at the end of that figure, which is exactly what happened.
explodicle@sh.itjust.works 7 hours ago
WTF happened in 1971‽
BarneyPiccolo@lemmy.today 4 hours ago
In 1974, Congress re-wrote the tax code, and baked in Trickle Down Economics, and the permanent financial landscape improved greatly for the wealthy. The rest of us were dealing with high inflation (Remember Ford’s WIN buttons - Whip Inflation Now?), gas lines caused by the OPEC oil embargo, interest rates over 20%, etc., and didn’t recognize what was happening.
So when Reagan came along and pushed Trickle Down Economics, it was already in place, and ramping up, he was just introducing it, and selling it to the American people, and it became standard dogma for a long time.
The result has been a decades long re-distribution of wealth to the upper incomes, at the direct detriment of the working and middle-class.
That’s why it appears to start before Reagan - because it did.
New York Mag: nymag.com/…/rand-study-how-high-is-inequality-us.…
Fast Money: fastcompany.com/…/we-were-shocked-rand-study-unco…
Zink@programming.dev 4 hours ago
T4V0@lemmy.pt 6 hours ago
Reagan
explodicle@sh.itjust.works 6 hours ago
It looks like this curve starts ramping up before 1981.
balderdash9@lemmy.zip 9 hours ago
Image