The wealth gap is the unequal distribution of assets among residents of the United States. Wealth includes the values of homes, automobiles, personal valuables, businesses, savings, and investments.
There is an important distinction between income and wealth. Income refers to a flow of money over time in the form of a rate (per hour, per week, or per year); wealth is a collection of assets owned minus liabilities. In essence, income is specifically what people receive through work, retirement, or social welfare whereas wealth is what people own.
The richest 1% of families controlled a record-high 38.6% of the country's wealth in 2016 and the bottom 90% owns 22.8% according to Federal Reserve reports.