Rich Indians Own 40% of Wealth in Extreme Inequality Under Modi
Rich Indians Own 40% of Wealth in Extreme Inequality Under Modi
India’s inequality gap has widened sharply under Prime Minister Narendra Modi’s decade in power, with the richest 1% of the population now owning 40% of the country’s wealth, a new study found.
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For quality, I think it would be quite sensible to include figures from a few other countries. These findings mean very little when they lack context; we need to know how they compare to other big economies like the US, UK, Germany, Italy, Russia, China (if you can get accurate data on Russia and China), and Japan.
USA top 1% holds 30.6%
Top 10% in the US hold 70% and the bottom 50% hold 1%, that is still pretty gross.
that's insane
Time for a revolution.
Rich Unitedstatians Own 30% of Wealth in Extreme Inequality
Alternative headline: "Indian wealth hoarding run amok; inequality eclipsing even United States"
That's a fair comparison, and would give me the appropriate "Oh shit!" that this headline just didn't offer.
Even a single, well-known point of reference makes it better. We all know world income inequality is absolutely nuts. But to pick out a particular one needs at least some kind of reference point (unless it's an Indian article for Indian people, like an article from the U.S. for the U.S.).
I couldn't agree more if I tried 🤜🤛