Thursday, April 12, 2012

America's income inequality in a graphic

The graphic strikingly captures the nature of income growth and resultant contribution to widening inequality in the United States. Though median income grew from $8,734 in 1970 to $49,445 in 2010, almost all the real income gains were captured by those at the top 10%. The contrast with economic growth in the previous half-century could not have been starker.

In fact, as Emmanuel Saez has documented, during the 2010 recovery, the top 1 percent captured 93 percent of the income gains, while the incomes of the 99 percent essentially remained flat.


freight broker customers said...

The sharp fall in top incomes is explained primarily by the collapse of realized capital gains due to the stock-market crash.

Unknown said...

It is visible in those graphs that inequality has caused U.S economic downfall. There’s a latest news video by Ed butowsky, entitled “Poverty Rate In U.S. To Hit 15.7%”. You can also watch the video here.