The wealthy are getting even wealthier because they’re so wealthy to start with. That’s the findings of new research, which shows that the richest 1% of Americans derive huge profits from capital gains, stock dividends and other types of business- or investment-related gains. In other words, money makes money. Or according to another saying, money goes to money.
Analysis found that the share of “income from wealth” going to the top 1% surged to 54% in 2010 from 33.5% in 1979. It was based on data from the Congressional Budget Office.
In 1979, the bottom 90% had 36.2%, according to the Economic Policy Institute. The 9% in between (the top 2% to 10%) claimed 30.3%. By 2010, the share derived by the bottom 90% had fallen to 22.9%, while the middle group slid to 23.0%.
Analysis found that the share of “income from wealth” going to the top 1% surged to 54% in 2010 from 33.5% in 1979. It was based on data from the Congressional Budget Office.
In 1979, the bottom 90% had 36.2%, according to the Economic Policy Institute. The 9% in between (the top 2% to 10%) claimed 30.3%. By 2010, the share derived by the bottom 90% had fallen to 22.9%, while the middle group slid to 23.0%.
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