September 25, 2014
This Depressing Chart Shows that the Rich Aren’t Just Grabbing a Bigger Slice of the Income Pie—They’re Taking All of It
By Christopher Ingraham
The Washington Post, September 25, 2014
Take a look at this chart, from Bard College economist Pavlina Tcherneva. In an August 2013 paper, she wrote:
An examination of average income growth [in the U.S.] during every postwar expansion (from trough to peak) and its distribution between the wealthiest 10% and bottom 90% of households reveals that income growth becomes more inequitably distributed with every subsequent expansion during the entire postwar period.
In other words, the wealthy are capturing more and more of the overall income growth during each expansion period….
Read more: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/09/25/this-depressing-chart-shows-that-the-rich-arent-just-grabbing-a-bigger-slice-of-the-income-pie-theyre-taking-all-of-it/
An examination of average income growth [in the U.S.] during every postwar expansion (from trough to peak) and its distribution between the wealthiest 10% and bottom 90% of households reveals that income growth becomes more inequitably distributed with every subsequent expansion during the entire postwar period.
In other words, the wealthy are capturing more and more of the overall income growth during each expansion period….
Read more: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/09/25/this-depressing-chart-shows-that-the-rich-arent-just-grabbing-a-bigger-slice-of-the-income-pie-theyre-taking-all-of-it/