In Brief
A recent article by MarketWatch covered a Federal Reserve study revealing that 70% of all wealth in the United States is controlled by the richest 10% of American households, with the top 1% holding on to 32% of wealth in 2018. The report also noted that the top 10% have obtained 64% of the national share of assets since 1989 and the top 1% saw the majority of asset share increases. The national homeownership rate for the first quarter of 2019 was below historically negative averages from the 1960s.
5 percent rate on income over $500,000. 6 billion in state revenue as a result of reworking the state tax structure. S.
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