- It is not possible to quantify the disparity between rich and poor by focusing solely on income.
- In order to effectively calculate the scale of inequality, factors such as tax, education, and healthcare opportunities need to be taken into account.
- Reportedly, in 2013 the wealthiest 5% of American households held 62.5% of all assets in the U.S.
“If poor people knew how rich rich people are, there would be riots in the streets.”
Actor and comedian Chris Rock made this astute statement during a 2014 interview with New York magazine, referring to the yawning gap between rich and poor. In so doing, he stumbled upon a key challenge in the study of inequality.See the rest of the story at Business Insider
NOW WATCH: JIM ROSS: Here’s who will take over WWE after Vince McMahon
See Also:
- 20 things you should know about your money by the time you’re 35
- 3 regular people share the worst investing advice they ever got
- Knowing which of these 2 personality types you are could make you better with money
SEE ALSO: This is how Warren Buffett accumulated his wealth over time — here’s what we can learn from it
