Study Proves: The Rich Are Recession's Littlest Victims
A new study from the Federal Reserve proves that everything Republicans have been saying is true: in the hard times of this recession, the rich are getting it the very worst.
More than 60% of families saw their wealth shrink over the two years, but the distribution was uneven across wealth groups. In the top wealth bracket, about 77% of families suffered wealth declines; the figure was below 50% for those with the smallest wealth.
Stop complaining, "those with the smallest wealth." You paupers barely lost anything! Rich people lost quite a bit more, in absolute dollar terms. Which is psychologically devastating, ask anyone! The median U.S. family saw its wealth fall from $125,000 to $96,000 after the recession. Imagine, if you had that much wealth, you'd be worried all the time. Thank god for poverty.
