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Tuesday, September 10, 2013

'The Rich Get Richer Through the Recovery'

In case you missed this news today:

The Rich Get Richer Through the Recovery, by Annie Lowrey, NY Times: An updated study by the prominent economists Emmanuel Saez and Thomas Piketty shows that the top 1 percent of earners took more than one-fifth of the country’s total income in 2012, one of the highest levels recorded in the century that the government has collected the relevant data.
The top 10 percent of earners took more than half of all income. That is the highest recorded level ever.
The figures underscore that even after the recession the country remains in a kind of new Gilded Age, with income as concentrated as it was in the years that preceded the Great Depression, if not more so. ...

    Posted by on Tuesday, September 10, 2013 at 02:53 PM in Economics, Income Distribution | Permalink  Comments (84)


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