Class in America
As an economist, I define class in economic terms. In the past, income and income inequality were usually the main determinants. Now it is a combination of income and wealth (actual and potential). There are four classes in America: 1) seniors with assets (wealth) and their inheriting kids. Demographically, the fastest growing class. Total U.S. household and nonprofit net worth reached a record $166.7 trillion in the first quarter of 2026, according to the Federal Reserve's Financial Accounts of the United States . This reflects the total value of all assets (like real estate, equities, and bank deposits) minus all liabilities (like mortgages and debt) across the nation. The top 10% of households own 70% of the wealth. Who are these households? They ...