Alarming Chart: US Middle Class vs Top 1% (Patreon)

The image is a line graph that compares how much wealth the top 1% of U.S. earners and the middle class own. It shows the percentage of total household wealth from 1993 to 2023.

1. The top 1% started with more than 35% of the wealth in 1993. Their share decreased until the early 2000s and then began increasing. Around 2013, their share increased more quickly. By 2020, the top 1% had more wealth than the middle class. Their share continued to grow but at a slower rate. 
2. The crossing point in 2020 is significant because it shows that the top 1% now has more wealth than the middle class. This radical change in wealth distribution will have social, economic, and political effects.
3. The rapid increase in the top 1%'s wealth around 2013 is disturbing and all we heard about the US middle class being destroyed seems to be somewhat true or becoming more so. 

Note: In 2023, to be in the top 1% of earners in the United States, you would need to earn an annual income of at least $652,657.