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The top 20% of Americans owned 86% of the country's wealth and the bottom 80% of the population owned 14%. In 2011, financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 43%, the next 19% of Americans owning 50%, and the bottom 80% owning 7%. [15]
The new extreme poverty line of $2.15 per person per day, which replaces the $1.90 poverty line, is based on 2017 PPPs. This means that anyone living on less than $2.15 a day is considered to be living in extreme poverty.
Between 1979 and 2007, the top earning 1 percent of Americans have seen their after-tax-and-benefit incomes grow by an average of 275%, compared to around 40–60% for the lower 99 percent. [37] [38] Since 1979 the average pre-tax income for the bottom 90% of households has decreased by $900, while that of the top 1% increased by over $700,000.
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A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.
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