Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion
Income Concentration in 2007 Was at Highest Level Since 1928, New Analysis Shows
Two-thirds of the nation’s total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households, and that top 1 percent held a larger share of income in 2007 than at any time since 1928, according to an analysis of newly released IRS data by economists Thomas Piketty and Emmanuel Saez.[1]
During those years, the Piketty-Saez data also show, the inflation-adjusted income of the top 1 percent of households grew more than ten times ...
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It is about time that we have some ammunition to throw at the uneducated poor that believe that those taxes the rich avoid somehow means the poor will get more money in their pockets. It is only Fair that those that receive the most benefits pay the most in taxes, it makes little difference who is in charge when you merely exist.