Has There Been a Bipartisan Effort to Increase the Wealth of the .1%?

Image by Morgan Housel.

The ability of the wealthy to accumulate more wealth has its ups and downs. However, as shown by the Federal Reserve Board’s (the Fed) Distribution of Household Wealth in the U.S. since 1989, the overall trend has been one in which the wealthiest .1% have succeeded at growing their share of the nation’s wealth. According to the Fed figures, by the end of the Biden presidency, the .1%’s share of the nation’s wealth reached 13.8%, increasing by over 60% from 8.6% in...