US wealth inequality hits record high

A new report highlights that wealth inequality in the United States has reached its widest point on record. The real wealth of the top 0.001% of households has grown by 3,500% since 1976, while the top 0.01% and 0.1% have seen gains of 2,200% and 1,200%, respectively. By comparison, the average American household's wealth has grown at a fraction of that rate, underscoring a decades-long trend of extreme concentration of wealth at the very top.