“Record income inequality hits another new record”
I’m sure we’re all shocked that the rich are taking yet another record share of the national economic pie:
The gulf between the richest 1% of the USA and the rest of the country got to its widest level in history last year.
The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years, according to a an analysis by economists at the University of California, Berkeley and the Paris School of Economics at Oxford University.
The richest Americans haven’t claimed this large of a slice of total wealth since 1927, when the group claimed 18.7%. The analysis is based on data from Internal Revenue Service data.
Is it any wonder that New Yorkers just voiced such strong support for a strident economic progressive like De Blasio? It appears the dam is beginning to burst at long last.
Hat Tip David Atkins at Hullabaloo
remember that tax hike in 2013? it resulted in a ton of income being accelerated into 2012 to take advantage of lower rates. eg, it was a tax motivated anomaly.