Your net value gives you a momentary photo of your financial health. To calculate the net value, take all your debt from your total money and other assets. Assets include money in the bank, plus the market value of your investments, together with its own capital in your home, vehicles and other properties.
Based on data from the US Federal Reserve, Americans have a combined total of $ 160.35 trillion wealth. But that money is far from evenly separated. The average net value for Americans is $ 1.06 million, led by billionaires in top 1%, holding more than 30% of America’s combined wealth, as reported earlier by Gobankingrates.
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The average net household value, on the other hand, is only $ 192,700. This is the ones directly in the middle.
With 340.11 million people in the United States to the last census, if we divided the wealth evenly in America, every person, including children, will receive $ 471 465. But how would that affect the economy?
We thought it would be interesting to ask Chatgpt five questions about what American society might look like if everyone had the same amount of wealth.
The sudden, universal distribution of $ 471,000 per person would cause one of the deepest economic shocks in US history. You will see a sharp jump in consumer expenses as people rushed to pay off debts, buy homes, upgrade their lifestyle, or enjoy a new wealth. This type of search jump can overdo the economy, leading to rapid inflation.
On the reverse, the distribution will probably reduce poverty almost immediately, increase social mobility and potentially narrow long -standing gaps in racial and generations.
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The pulsation effects would be global. If inflation in the US has increased sharply, the Federal Reserve may respond by raising interest rates, which would tighten global loan conditions. In short: Global trade will see the outbreak of demand, but the financial markets can shake under the pressure of such a dramatic change in the ownership of the assets.
This is a billion dollars’ logistical issue. Much of the wealth of 1%is tied to shares, private companies, real estate and other non -monetary assets. In order to redistribute this wealth, the government will probably have to impose a one -off tax on wealth or forced sale of assets by transforming some of the property with high value in cash or government tokens for distribution.