The rich continue to get richer

Paul Krugman calls out the latest income inequality numbers from Emmanuel Saez.  The nearly thirty year trend of increasing income inequality got noticeably larger during the Clinton & Bush II years.  And yes, that is the % of income claimed by the wealthiest 1/10000th of the US population.  The wealth values are no doubt even higher.  These values only go up to 2007, but my guess is that 2008 was even higher, and possibly 2009 as well.

Saez07 

If we look at just the top 1%, they claim 23% of all income and followed a similar path as the top 1/100%, though not as radical.  The top 1%, by the way, represents families with an annual income above $398,900 in 2007.  Who says we cannot pay for health care and close the deficit by taxing these folks more.

Download the data and graphs in Excel format.  Table 2 has a nice summary.

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