![This really, really bothers me. From The Economist:
A quarter of America’s total income is earned by the top 1%
AMERICA is the wealthiest country in the world and its rich keep earning more. In 2007, the latest year for which data are available, the top 1% increased their share of the country’s income to 23.5%, according to analysis of tax returns by a pair of economists, Emmanuel Saez and Thomas Piketty. The concentration of income earned by this top percentile now stands at its highest since 1928 [right before the great depression -JKB]. Two-thirds of the country’s total gains in the five years to 2007 accrued to the top 1%, whereas the bottom 90th percentile saw only 12% of the extra income.](http://25.media.tumblr.com/tumblr_kr693yJeZ71qzud5co1_500.jpg)
This really, really bothers me. From The Economist:
A quarter of America’s total income is earned by the top 1%
AMERICA is the wealthiest country in the world and its rich keep earning more. In 2007, the latest year for which data are available, the top 1% increased their share of the country’s income to 23.5%, according to analysis of tax returns by a pair of economists, Emmanuel Saez and Thomas Piketty. The concentration of income earned by this top percentile now stands at its highest since 1928 [right before the great depression -JKB]. Two-thirds of the country’s total gains in the five years to 2007 accrued to the top 1%, whereas the bottom 90th percentile saw only 12% of the extra income.
