As the bombshell Pandora Papers continue to expose dubious details about how the world\u0026#039;s superrich hide their fortunes and avoid paying their fair share of taxes, Bloomberg\u0026nbsp;on Friday published an analysis of U.S. Federal Reserve data revealing that Americans in the top 1% income tier now have more wealth than the entire middle class.\r\n\r\nAccording to Bloomberg:\r\n\r\n\r\nThe middle 60% of U.S. households by income—a measure economists often use as a definition of the middle class—saw their combined assets drop to 26.6% of national wealth as of June, the lowest in Federal Reserve data going back three decades. For the first time, the superrich had a bigger share, at 27%.\r\n\r\n\r\n\u0022Middle class\u0022 is defined here as households earning $27,000 to $141,000 annually, while the income threshold for membership in the 1% is $500,000 per year. According to the Fed data, 1.3 million U.S. households now have more wealth than the 77.8 million families in the middle 60%.\r\n\r\nBy comparison, in 1990 the top 1% held just 17% of the nation\u0026#039;s wealth—less than half of the middle class\u0026#039; 36%. Since the Occupy Wall Street movement elevated conversation about \u0022the 99% v. the 1%\u0022 from the lexicon of class warfare to mainstream debate a decade ago, the top 1% now enjoy a 5% bigger slice of the wealth \u0022pie,\u0022 at the expense of everyone else.\r\n\r\n\r\n\r\nThe middle class\u0026#039; share of real estate, equities, and private businesses has also steadily declined in recent decades. While the middle class owned 44% of U.S. real estate assets in 1991, its share is down to 38% today.\r\n\r\nThe new analysis comes as American politicians and people debate what fair taxation looks like.\r\n\r\nWhile Republicans and right-wing Democrats in Congress vehemently oppose raising taxes on the wealthiest individuals and corporations, most Americans—including a slim majority of self-described Republicans—back President Joe Biden\u0026#039;s plan to raise taxes on people earning over $400,000 annually, according to a recent survey by Data for Progress and Invest in America. The poll also found that a majority of Americans, including 47% of Republicans, support raising the tax rate on large corporations from 21% to 28%.\r\n\r\n\r\n\r\nThe Bloomberg report also comes amid ongoing revelations from the Pandora Papers, a tremendous trove of nearly 12 million documents whose contents include details about how the U.S. is a \u0022spectacularly corrupt tax haven,\u0022 as one journalist described the findings.