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Originally Posted by Danzig
Also....what am i to take away from the 2011 cbo study that shows that since 1979, growth for the top 1% wage wise is over 275%, but for the next 60 % is about 40%? What about the finding that not only has income inequality risen in most developed coutnries, the change is greatest here?
and what am i to discern from the statistic that only 42% of americans believe that this inequality actually exists, regardless of all the findings?
In 2012, the wage gap was the largest since the 1920s...with the top 1% seeing a 20% gain, the other 99% saw a 1% increase..
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Celebrate the fact the study you quote is dated, conveniently ending with 2007 stats, though published in 2011 and per the same CBO curiously from 2007-2009 the trend was quite different. Then again we must ask who initiated the 2011 study that stopped with 2007 stats?
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Average before-tax income fell between 2007 and 2009 for households in all income quintiles, but the amount of that decline varied by quintile. The declines in before-tax income were 5 percent or less for households in each of the four lowest income quintiles and 18 percent for households in the top quintile. For households in the top one percent, income fell by 36 percent, reducing their share of before-tax income from 18.7 percent to 13.4 percent.
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http://www.cbo.gov/publication/43373