Gavin Newsom: “10% of people own 2/3 of the wealth in the United States of…”

“The issue of affordability is top of mind. I've talked a lot about this. That we need to democratize our economy to save our democracy. Just consider 10% of people own 2/3 of the wealth in the United States of America. But the impact is deeply concerning, particularly for young people. Just consider someone 30 years or younger. It's the first generation that's not doing better than their parents.” (07:09–07:16)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.