The Center on Budget and Policy Priorities economists just confirmed the trends of the last 8 years — Most of the the Economic Gains went to the very Wealthy, while the rest of us struggled to just get by
TOP 1 PERCENT OF AMERICANS REAPED 2/3 OF INCOME GAINS In last Economic Expansion,
Income Concentration in 2007 Was at Highest Level Since 1928, New Analysis Shows
By Avi Feller and Chad Stone – September 9, 2009
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.
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 faster than the income of the bottom 90 percent of households.