This graphic adds an annotated political history to the iconic (and recently-updated) Piketty and Saez data on top income shares in the U.S. The events and legislative landmarks listed here are representative rather than exhaustive. And they are meant to suggest broad policy shifts rather than direct causal relationships. But the pattern is nevertheless clear. The share of the top one percent rose during eras of tax cutting, light financial regulation (or deregulation), and labor weakness. And inequality narrowed when policy pushed in the opposite direction.
We’re not talking about the rise of a broad class of highly educated workers, we’re talking about a tiny elite Continue reading »
New data reveal that the top 1% enjoyed real income growth of 31% between 2009 and 2012, compared with growth of less than 1% for the bottom 99% Continue reading »
According to the Census Bureau’s 2010 American Community Survey, the majors that give you the best chance of reaching the 1 percent are pre-med, economics, biochemistry, zoology and, yes, biology, in that order. Below is a chart showing the majors most likely to get into the 1 percent (excluding majors held by fewer than 50,000 … Continue reading »
Canadians in the top 1 per cent are paid more than $191,000 a year, according to the National Household Survey, which takes a closer look at how governments take from the rich and give to the poor Continue reading »
The wealthiest 1 percent now control 39 percent of the world’s wealth, and their share is likely to grow in the coming years, according to a new report. The world’s total private wealth grew 7.8 percent last year to $135 trillion, according to the Boston Consulting Group’s Global Wealth report. The top 1 percent control … Continue reading »