If the top 10% of Americans own 80% of the wealth, does that mean 1 in 10 people I see on the street have significantly more money than me?

Question

If the top 10% of Americans own 80% of the wealth, does that mean 1 in 10 people I see on the street have significantly more money than me?

In: 4977

Answer 1

Not likely, since people of similar socioeconomic classes tend to live in the same areas.

i.e. Rich people live in very wealthy areas/neighbourhoods where they hardly ever even have to look at “the poors”; they’re not slumming it with the rest of us plebs.