For the first time in history! The wealth of all middle-class families in the United States is less

Original title: for the first time in history! The wealth of all middle-class families in the United States is less than the top 1% of the rich
Beijing, Oct. 10 (Xinhua) according to U.S. media reports, relevant data show that the wealth of the top 1% of Americans has exceeded that of all the middle class in the United States, which is the first time in history.
Bloomberg reported that economists usually define the middle class as the group with income in the middle 60%. According to the U.S. Census Bureau, 77.5 million families with an annual income of $27000 to $141000 belong to this 60% of the middle class.
According to the data of the Federal Reserve, the total assets of this part of the middle class together account for 26.6% of the total wealth of Americans, less than the top 1% of the rich people - their wealth accounts for 27%, surpassing the middle class for the first time in history.
The 1.3 million families with an annual income of more than $500000 belong to the top 1% of the rich. At present, there are nearly 130 million family units in the United States.
The increasing concentration of wealth at the top of the "pyramid" is one of the main topics in the public debate of American politicians. Despite the trillions of dollars invested by the government during the new crown epidemic, the gap between the rich and the poor is still widening. The proportion of real estate, stocks and private commercial assets owned by the middle class is shrinking. This means that once they lose their jobs, the middle class can rely on less savings and assets.
U.S. President Joe Biden is currently promoting a $3.5 trillion spending plan, hoping to increase investment in child care, education and health insurance to help working-class and middle-class families. At the same time, the Biden administration wants to tax high-income people.
Fed data show that in the past 30 years, 10% of Americans' wealth has been transferred to the top 20% of households. The top 20% of households now own 70% of the wealth of American households.
Ten years ago, middle-class families owned more than 44% of real estate assets. Now they own only 38%. During the epidemic, house prices rose continuously, which directly benefited families who owned real estate themselves. Those families who do not buy a house and live by renting a house face greater financial pressure.
Another reason for the decline in the proportion of middle-class families' wealth is that their consumer loans are rising. The so-called consumer loans are other loans other than housing mortgages, such as car loans, student loans, etc. Usually, these loans have higher interest rates.