The distribution of wealth in the United States hasn’t been as lopsided as it is now since the years leading up to the Great Depression, when the richest 10 percent of Americans owned 84 percent of the country’s wealth. This fact—along with other surprising trends in wealth and poverty—was unearthed in a new report from researchers Emmanuel Saez of the University of California, Berkeley, and Gabriel Zucman of the London School of Economics. In an analysis of the wealth of American families over the past 100 years, the researchers considered an array of complicated data sets and factors including family pensions, life insurance, and income tax.
What they found is that the gap between the rich and the poor has gotten larger over the past few decades, due in large part to the explosive growth of wealth for the richest of the rich. The study also shows that the 1980s were the closest the country has been to a golden age for economic equality—not exactly what Ronald Reagan is known for these days.