The net worth of the wealthiest 400 American's is very nearly the same as the poorest 200,000,000 American's. $1.37 trillion in 2010 for the 400 and $1.26 trillion for the 200 million Americans.
That's what Michael Moore is saying, but is it really true?
Politifact says it is-
"In other words, he was saying the poorest 60 percent of U.S. households had $1.22 trillion in net worth, which is less than the $1.27 trillion in net worth for the Forbes 400 wealthiest Americans.
We contacted Wolff, who said he had reviewed Moores calculations.
"As far as I can tell, theyre fine," he said.
Three economists -- Thomas Piketty of the Paris School of Economics, Emmanuel Saez of the University of California, Berkeley, and Daniel Mitchell of the libertarian Cato Institute -- agreed.
We made one more check.
Since Moores statistics were for 2009, we sought figures for 2010.
The 2010 net worth of the Forbes 400 was $1.37 trillion, Forbes reported in September 2010. That same month, the total U.S. net worth was $54.9 trillion, according to the Federal Reserve Board report cited by Moore.
Wolff hasnt updated his 2009 figures. So we used his 2.3 percent figure again, multiplied by the 2010 total net worth of $54.9 trillion, and found that the net worth of the poorest 60 percent of U.S. households was $1.26 trillion in 2010."
Michael Moore- http://www.michaelmoore.com/words/mu...everybody-else