Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion

cbpp.org, Center on Budget and Policy Priorities by Avi Feller, Chad Stone | Sep. 9, 2009 (Special Report)
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 ... Full Story »

Posted by Dwight Rousu

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Subjects: Living, Business, Politics, World, U.S.
Topics: Money, Money and Politics, Poverty
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Posted by: Posted by Dwight Rousu - Sep 9, 2009 - 3:39 PM PDT
Reviewed by: Dwight Rousu (review), Tanya J. Maurer (review), MissShanice (review), Patrick McGuire (review), alan segal (review), Lynn R. Willis (review), Patricia Blochowiak (review), Glenn LaBauve (review)
Content Type: Article
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Edited by: Dwight Rousu - Sep 9, 2009 - 3:39 PM PDT
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4.3
 by Glenn LaBauve - Sep. 15, 2009

Economics by its nature of being based on facts and figures can be rather hard to digest, but this article breaks it down well with words and pictures

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 ... More »

See Full Review » (13 answers)
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4.8
 by Lynn R. Willis - Sep. 12, 2009

This piece tells a compelling story, and assuming that the statistics are accurate and appropriately represented, points to an inescapable conclusion; i.e., that barring a change (soon) in the way wealth is distributed in this country, America as we know it will cease to exist. Indeed, David S. Mason voices exactly this concern in his recent book, "The End of the American Century."

Some folks, particularly the mega-rich, will probably choose to ignore these statistics or challenge their validity. If this situation continues, ... More »

See Full Review » (20 answers)
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4.5
 by Dwight Rousu - Sep. 9, 2009

The article gives a well footnoted and bar-charted presentation.

The great and growing disparity of wealth is a sign of deterioration of our society.

Saez, along with Harvard economist Lawrence Katz, points to previous recessions and notes that only major policy shifts like the New Deal have prevented income ... More »

Dwight posted this story.
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4.2
 by Tanya J. Maurer - Sep. 9, 2009
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4.7
 by Patricia Blochowiak - Sep. 12, 2009
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5.0
 by alan segal - Sep. 12, 2009

It is based on facts period.

This is something you will never hear about on Fox News or from the right wing propaganda machine amidst their attacks on Obama as a Socialist. And ... More »

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5.0
 by Patrick McGuire - Sep. 12, 2009

Very well done with facts and graphs for a clearer picture. It is well sourced even with footnotes.

It is insightful but no surprising as the US has a history of the growing gap between the ri ch and poor but it nevers get addressed.

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4.5
 by MissShanice - Sep. 9, 2009
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