The top 0.2 percent of the population has a net worth about equal to that of the bottom 90 percent combined.
Mixed Partly true and partly false in roughly equal measure.
Factual: Statements about the present or the past, checked against the record: did they hold up?
The second judge would not resolve this claim; the verdict shown is the first judge's.
What would count as true or false
As of early 2018, using standard US wealth-distribution estimates (e.g. Saez–Zucman). True: estimates of that time show that the wealth share of the top 0.1–0.2% roughly equals the bottom 90%'s share, within a few percentage points (e.g. both about 20–25%). Mostly true: the equality holds for the top 0.1% or a nearby group, or it holds within a modest margin. Mixed: it holds in one prominent data set but is clearly contradicted by others (e.g. the Fed DFA or SCF shows the bottom 90% well above the top 0.2%). Mostly false: the comparison holds only for a different top group (e.g. the top 1%), or only in an extreme estimate, and is presented as a general fact. False: all major estimates show the top 0.2%'s wealth is far from equal to the bottom 90%'s (e.g. differing by a factor of two or more).
Set before the research began.
Evidence (3)
-
E1 Warren: Top 0.1% own about as much as the bottom 90% PolitiFact · 31 January 2019
“They wrote that the top 0.1 percent own about 20 percent of all the nation’s wealth. The bottom 90 percent own about 25 percent.”
-
E2 Warren: Top 0.1% own about as much as the bottom 90% PolitiFact · 31 January 2019
“But another study found that the top 0.1 percent owned about 15 percent of all household wealth, while the bottom 90 percent owned 29 percent.”
-
E3 Warren: Top 0.1% own about as much as the bottom 90% PolitiFact · 31 January 2019
“When we compared the data from both studies (we had full spreadsheets from each), the Saez-Zucman estimates tend to show the wealthy owning a little more and the rest of the population owning a little less than the Federal Reserve group found.”
Reasoning
PolitiFact reports estimates in which the top 0.1% own about 20% of US wealth and the bottom 90% about 25% (E1), a gap of about five points for the top 0.1% group; the material gives no figure for a top 0.2% group. Another study reported by PolitiFact puts the top 0.1% at about 15% and the bottom 90% at about 29%, leaving the bottom 90% well above the top group (E2), and PolitiFact notes that the Saez–Zucman estimates tend to show the wealthy owning a little more than the Federal Reserve group found (E3). The comparison holds in one prominent data set but is contradicted by another, which matches the criteria's definition of mixed.
Cite this claim
Ray Dalio, “The top 0.2 percent of the population has a net worth about equal to that of the bottom 90 percent combined.” (said 1 February 2018). Verdict: mixed. Reliability API, claim c_7dae7786e1c9, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_7dae7786e1c9
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
More factual claims by Ray Dalio
-
Mostly false
“That has been true through all history.”
-
Mostly true
“So when we look at history, we see that in all such periods, all the fiat currencies go down, okay?”
-
Mostly true
“It takes in about $5 trillion, so it spends 40% more than it takes in.”
-
Mostly true
“you could still have financial problems, like the breakdown of the monetary system in 1971, okay?”
The monetary system broke down in 1971 while the United States was still a dominant power.
-
Resolved true
“one-third of our debt is held by foreigners, so that’s a different thing.”
Verdicts are made automatically; how verdicts are made.