While this is mathematically true, I don't think it is necessary to acknowledge it in order to suggest/discuss a reasonable model for wealth distribution. I would even say that it is beside the point. The OP is trying to show that the order of magnitude of US wealth (or income) inequality is shocking. Moreover, most of us vastly underestimate the magnitude of US wealth inequality. And I would add as an example that many still believe in the American Dream, even if the US is one of the worst OECD countries when it comes to social mobility [1]. As George Carlin was saying, "You have to be asleep to believe it."
Back to the OP, when the top 1% has 24% of income (and 40% of wealth), that means there's a lot of luxury in the US which could instead be used to improve the life of some other less fortunate citizens. The economics rhetoric is clearly failing: the current wealth distribution is certainly not the most efficient distribution of resources if one is to include "quality of life" in the equation.
Back to the OP, when the top 1% has 24% of income (and 40% of wealth), that means there's a lot of luxury in the US which could instead be used to improve the life of some other less fortunate citizens. The economics rhetoric is clearly failing: the current wealth distribution is certainly not the most efficient distribution of resources if one is to include "quality of life" in the equation.
[1] http://www.oecd.org/eco/growth/economicpolicyreformsgoingfor...