I’m catching up with this thread, not all the way up to current yet, just disclaimer. Treco you’re a smart dude and I like you. I understand your concerns and I think a lot of them are valid as well. However, I would caution you to be careful interpreting things like this at face value–countries have their own definition of “poverty” and it is not often the same from place to place. This makes comparisons difficult.
In addition as USMC said a few posts below your quote here, net worth takes into account debt such as mortgages and loans against home value, investments, retirement. I would submit that the graphic is not complete–many, many people outspend their means and do not save. This is not a function of bad income inequality–it is a function of people’s lack of planning and discipline. Does income inequality exist? Most certainly. But it is compounded by millions of people living beyond their means as well.
Also, as USMC pointed out, it does not take into account how many people have moved tax brackets. I think personally it is less concerning to know whether a certain proportion of people have X amount of wealth than it is to know if that proportion of people is always made up of the same individuals or if new blood is moving in.
Also, as I’m sure you’re aware from your experiences with owning a local retail store prior to Lowe’s moving in–you would probably have been counted among the 1% in this graph there even though you would not have seen all that income (assuming you were LLC). You certainly would be in the top 4%.
Not knowing where you are now (though wishing you the best), I would wager you probably did not think of yourself as the “top 1% or 4%” when you owned that business even though you would be considered up there according to this graphic. There are lots of people in that situation as well–I would not consider them “part of the problem” where income inequality is concerned.
