Sunday, July 05, 2026
Median Wealth In The U.S. Falls (As Too Much Goes To The Rich)
The following is part of an article from Daniel Orton at Newsweek:
The typical American has suffered a major decline in wealth since the start of the decade, even as the United States has continued to create millionaires at a remarkable pace, according to UBS’ Global Wealth Report 2026.
UBS found that inflation-adjusted median wealth per adult in the U.S. fell significantly between 2020 and 2025, while average wealth per adult increased, underscoring a growing divide between households in the middle and those at the top of the wealth ladder.
The distinction is crucial. Median wealth reflects the assets held by people in the middle of the wealth distribution and is often viewed as a better measure of the financial position of a typical household. Average wealth, by contrast, can be heavily influenced by gains among the wealthiest Americans.
Despite the decline for the median American, the U.S. remains one of the wealthiest countries in the world. UBS estimates average wealth per adult at $696,277, the second-highest level among the markets surveyed. Yet median wealth stands at only $68,998, highlighting the extent to which wealth is concentrated among a relatively small share of households. . . .
For middle-class Americans, the findings suggest that the benefits of rising asset prices have not been evenly distributed. While stock markets and other financial assets have helped boost overall wealth figures, many households have not experienced comparable gains after accounting for inflation. The result is a situation in which the country is becoming wealthier on paper while the financial position of the median American has deteriorated.
The divide is reflected in the report’s measure of wealth inequality. The U.S. recorded a wealth Gini coefficient of 0.77, the sixth-highest among the 56 markets analyzed. The measure, which tracks how concentrated wealth is within a population, indicates that a relatively small share of households holds a disproportionate share of the country’s assets.
UBS also found that the U.S. ranks second in average wealth but only 28th in median wealth, one of the clearest indications in the report that gains have been concentrated among wealthier households.
The REAL Patriots Are . . .
Robert Reich discusses who the real American patriots are:
On this July 4 — the 250th anniversary of the start of this country — many people, including the current occupant of the Oval Office, believe that celebrating America means waving the flag or standing for the national anthem or shouting, “America First.”
That’s not what real patriotism is.
Real patriotism means sacrificing to keep America going.
It means paying taxes proportional to your wealth. I’m talking to you, Donald Trump, and you, Jeff Bezos, and you, Elon Musk.
It means paying your workers a living wage so they can thrive. I’m talking to you, John Furner, CEO of Walmart, and you, Chris Kempczinski, CEO of McDonald’s.
It means fully reckoning with how racial oppression and white supremacy have shaped this nation, not whitewashing our history and ignoring racism’s continuing legacy. I’m talking to you, Ron DeSantis, and other lawmakers trying to prevent students from learning the roles slavery and genocide have played in our history.
Real patriotism means protecting American democracy and our form of government, not trying to overturn an election that was upheld by 60 federal courts and the Supreme Court, or lying about election fraud when it barely exists, or seeking to suppress the voting rights of people of color.
I’m talking to you, Trump, along with traitorous members of Congress who refused to certify the 2020 election, and you, state legislators who have advanced nearly 400 voter suppression bills, and you, Supreme Court justices who have gutted the Voting Rights Act of 1965.
Real patriotism means not flooding our politics with big money, so the voices of the people can be heard. I’m talking to you again, Elon, as well as Charles Koch, Timothy Mellon, Miriam Adelson, and Michael Bloomberg.
And it means putting the interests of our country over partisanship. Do you hear me, Mike Johnson and John Thune?
Finally, real patriotism means using your position of power in the media to inform and educate the public rather than weaponize lies and promote extremism to get more clicks. I’m talking to you, Mark Zuckerberg, and you, David Ellison, and you, Rupert Murdoch, and, once again, you, Elon.
On this July 4, the 250th anniversary of America, we must recommit ourselves to real patriotism — the hard work necessary to make American democracy survive.
Saturday, July 04, 2026
What Voters Think About America's 250th Birthday
Wall Street Is Doing Good But Main Street's Economy Is In The Crapper
Trump keeps bragging about how well Wall Street is doing, but that doesn't affect most Americans. For them, the economy is not doing well at all. Robert Reich explains:
Job growth slowed considerably last month. Employers added a less-than-expected 57,000 jobs in June, according to Labor Department data out today.
That’s far below the 129,000 jobs added in May and comes amid high anxiety about the state of the American economy.
According to today’s report, average hourly earnings increased by 3.5 percent. But prices are increasing at an annual rate of 4.2 percent.
What do you get when prices are increasing faster than wages? You get people who are becoming poorer. And what do you get when people become poorer? Angry voters.
Trump is constantly talking about the strength of the stock market. This morning he even shared a link to an article called “S&P 500 closes with strongest quarter since 2020.” Yesterday, when asked about the huge profits he’s made off his stock trades, he countered, “Well, you know why I’m profiting? Cause the stock market’s going up. Everybody’s profiting.”
The truth is most Americans aren’t profiting in the stock market. The richest 10 percent own over 90 percent of the value of all shares of stock. The richest 1 percent own over half of the value of all shares of stock.
Trump frequently points to 401(k) accounts as evidence of Americans benefiting from the strong stock market. But only around a third of working-age individuals have any savings at all in 401(k) accounts. About 40 percent of all Americans have no retirement savings whatsoever.
Bottom line: It’s a lousy economy. Anyone who voted for Trump in 2024 should have buyer’s remorse.
83% Say U.S. Has Moved Away From The Principles/Ideals On Which It Was Founded
The chart above is from the NPR / PBS News / Marist Poll -- done between June 8th and 11th of a nationwide sample of 1,340 adults, with a 3 point margin of error.
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