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How wealthy is the top 0.1 percent of America?

Posted at 10:19 PM, Mar 19, 2016
and last updated 2016-03-20 17:53:55-04

The top 0.1 percent of America have a lot of wealth, as much as the bottom 90 percent, according to Vermont Sen. Bernie Sanders.  

Sanders described a "rigged economy" when rallying again in Phoenix on Saturday. 

"The top 1/10th of one percent now owns almost as much wealth as the bottom 90 percent," Sanders said. 

"The top 1/10th of 1 percent now owns almost as much wealth as the bottom 90 percent."

PolitiFact truth-checked this claim back in September 2015. 

According to a October 2014 National Bureau of Economic Research study, the rich have gotten richer since 1978. Meanwhile, for the bottom 90 percent, wealth has decreased from 35 percent of the nation's share in the mid-1980s to 22 percent of the nation's share in 2012.

However, the study excludes 60 million people who receive Social Security benefits. On average, that's about $1,223 a month. 

PolitiFact rated this claim as mostly true

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