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kpete

(72,006 posts)
Wed Feb 13, 2013, 06:04 PM Feb 2013

Yes, Virginia, the Rich Continue to Get Richer: the Top 1% Got 121% of Income Gains Since 2009

Yes, Virginia, the Rich Continue to Get Richer: the Top 1% Got 121% of Income Gains Since 2009
Yves Smith
Naked Capitalism
Wednesday, February 13th, 2013 5:11AM

Yes, sports fans, you read that headline correctly. The top 1% has captured all of the income gains since 2009 and then some, roaring ahead while the rest of the population slipped behind. A new paper by Emmanuel Saez (along with his frequent co-author Thomas Piketty, a long-standing cataloguer of income inequality) estimates that the income gains to the top 1% from 2009 to 2011 were 121% of all income increases. How did that happen? Incomes to the bottom 99% fell by 0.4%...



MORE:
http://www.nakedcapitalism.com/2013/02/yes-virginia-the-rich-continue-to-get-richer-the-1-got-121-of-income-gains-since-2009.html
http://www.dailykos.com/story/2013/02/13/1186890/-Saez-Piketty-Income-Inequality-Update-Top-1-Have-Received-121-of-Income-Gains-Since-2009
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