An awfully interesting article in the NYT today about the 84 trillion dollars that will be left to descendants in the 10 or 20 years.
Note the graph in the article (which should not be paygated) entitled “The Top 10 Percent of Households Hold a Majority of the Wealth,” which shows that about 72% of inherited wealth in the next 10 to 20 years will the top 10% of income earners passing money on to their descendants. Meanwhile, in the text it says that most of the boomers who will die and pass on money were rich to start with.
So … the rich will continue to get richer and the poor … maybe the rising tide will lift their boats a smidgen, but maybe not.