The top 1% of US earners collected 19.3% of household income, breaking a record previously set in 1927. And the top 10% of richest households represented just under half of all income in the year, according to the analysis.
The top 1% of American households had income above $394,000 (£250,000) last year. The top 10% had income exceeding $114,000.
Top 1% incomes grew by 31.4% while bottom 99% incomes grew only by 0.4% from 2009 to 2012. Hence, the top 1% captured 95% of the income gains in the first three years of the recovery. From 2009 to 2010, top 1% grew fast and then stagnated from 2010 to 2011. Bottom 99% stagnated both from 2009 to 2010 and from 2010 to 2011. In 2012, top 1% incomes increased sharply by 19.6% while bottom 99% incomes grew only by 1.0%.
In sum, top 1% incomes are close to full recovery while bottom 99% incomes have hardly started to recover.
The top 1% of American households had income above $394,000 (£250,000) last year. The top 10% had income exceeding $114,000.
Top 1% incomes grew by 31.4% while bottom 99% incomes grew only by 0.4% from 2009 to 2012. Hence, the top 1% captured 95% of the income gains in the first three years of the recovery. From 2009 to 2010, top 1% grew fast and then stagnated from 2010 to 2011. Bottom 99% stagnated both from 2009 to 2010 and from 2010 to 2011. In 2012, top 1% incomes increased sharply by 19.6% while bottom 99% incomes grew only by 1.0%.
In sum, top 1% incomes are close to full recovery while bottom 99% incomes have hardly started to recover.
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