"(a) how wealth actually is distributed in America; (b) how people think it's distributed; and (c)

[pampango]

how they think it should be distributed"

...the capacity for feeling short-changed and ill-treated, even among some of the most materially-fortunate people ever to live on Earth (US' wealthy and near-wealthy). No doubt it's a primal human trait, but for various reasons (as explained here) the ever-polarizing distribution of wealth and income in America has allowed more people to feel bad about their own situation by looking at the handful who are stratospherically better off.

http://www.theatlantic.com/national/archive/2010/09/more-on-the-wealthy-poor-and-a-fair-society/63582/



The chart below conveys the central point: people think the distribution of wealth is more equal than it actually is; and they think it should be much more equal than their already unrealistically-equal notion of its current state. Eg: the top 20% of the US wealth distribution actually controls nearly 85% of total wealth; people think the top 20% controls under 60%; and they think it should control just over 30%

Similarly: people feel that the bottom 20% of the economic pyramid "should" have about 10% of the total pie; they think it actually has about 3% or 4%; in fact, its share appears to be too small to show up on the chart.

After the jump, another chart showing how these misperceptions break down among income groups. The de-middle-classing of America is a familiar story, but since it will be seen as one of the huge trends of this stage of history it deserves even more attention than it gets.

[ck4829]

1. Will the middle class soon join unicorns and fairies in the Hall of Mythical Creatures?

It becomes more and more likely with each passing day.

K&R.

[TygrBright]

2. Your graph is not clear.

It looks as though the "Actual" distribution of wealth has the bottom 20% owning 83% of the wealth.

Maybe change the color for them?

helpfully,
Bright

[pampango]

5. It's not mine, I just linked to it. The 4th and 5th quintiles are so small you can't see them.

You're right the 1st and last quintiles are the same color apparently, but the top quintiles are on the left and the bottom on the right.

[Little Star]

7. I can see the difference in the two shades of blue.

[PDJane]

3. I figured this was the case;

It's amazing how many people think the US spends so much more as a percentage of GDP than is actually the case, too.

[JVS]

4. Are my eyes deceiving me or do people think the middle 20% should have more than the second 20%?

[Greyhound]

6. They also are blissfully unaware that the single most reliable predictor for individual success

is coming from wealth.

Sure a very few people will win the lottery, but the overwhelming facts are that if you're born rich, you will die much richer and if you're born poor, you will almost certainly die poor.