Poverty Amid Affluence Chapter 6The Haves and the Ha’ * Equality of opportunity is a central value in American society, but equality of outcome is not + Most Americans believe that everyone should have the same opportunity to achieve success, but they do not object to inequality in situations between groups + Middle-class standard is the norm* One measure of wealth is the value of savings and checking accounts, real estate, automobiles, stocks and bonds, and other assets minus debts Federal Reserve Board indicates that one percent of all households hold over one-third of all personal wealth The wealthiest 20 percent of households receive 50 percent of all income The poorest 20 percent receive less than 5 percent of income