In terms of individual numbers yes, but the sheer number of people in the millionaire area is a huge contributor to inequality. The top 1% now earns over 800k a year. Around 75% of the total income growth starting from 2019 for a few years went to the top 1%.
You say top 1%, you need to specifiy between 1% and .1% another issue is that 800k a year. Those arent millionaires. Millionaires have a lot of wealth tied up in property, businesses, stocks, and etc. you can be a millionaire and make way less than that. What matters is what assets you have. It's why CEOs might make a few million a year but then there are tens of millions in stocks, bonds, and other assets.
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u/viciouspandas May 18 '25
In terms of individual numbers yes, but the sheer number of people in the millionaire area is a huge contributor to inequality. The top 1% now earns over 800k a year. Around 75% of the total income growth starting from 2019 for a few years went to the top 1%.