One of the Utopian ideas of socialism is for everyone to be more equal, and for the government to take care of us all. The left continually decries the top 1% of Americans for owning so much of the wealth, and says that proves that capitalism is crushing us all.
Let’s take a look at Sweden, one of the most well known socialists countries on Earth. The top 1% owns 40% of the wealth in Sweden. Surely if wealth spread out among classes is the measuring stick of the success of socialism, Sweden must be far better than the U.S.?
In this Cato Opinion piece by Alan Reynolds, it turns out that the top 1% in the U.S. earns 20% of the wealth. And the statistics have been been put out time and time again that show this is not a static group, but the top 1% is a constantly changing dynamic of people.