There's a Mind-Boggling Number of Rich People in America

Owen Zidar and Eric Zwick discuss their new book The Everywhere Millionaire, which reveals that roughly 3 million private business owners in the US hold an average wealth of about $25 million—a group they call Main Street Millionaires. They explain how they used Treasury tax data to uncover this hidden class, and connect the rise of pass-through businesses after Reagan's 1986 tax reforms to growing income inequality. A striking data point: dentists collectively earn more than the entire NFL.