Perceptions are changing, but most Americans still underestimate income and wealth inequality. The bifurcation of society extends to our communications. Neither side really gets to see the other.
The average American believes that the richest fifth own 59% of the wealth and that the bottom 40% own 9%. The reality is strikingly different. The top 20% of US households own more than 84% of the wealth, and the bottom 40% combine for a paltry 0.3%. The Walton family, for example, has more wealth than 42% of American families combined.