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CHARTS: The Amazing Wealth Surge For The Top 0.1 Percent (xpost frm Economy)
http://talkingpointsmemo.com/dc/the-amazing-wealth-surge-for-the-top-0-1-percent
CHARTS: The Amazing Wealth Surge For The Top 0.1 Percent
Sahil Kapur – March 31, 2014, 11:22 AM EDT
New research finds that richest 0.1 percent of Americans have dramatically expanded their share of the country's overall wealth in the last three decades.
The study finds that the top one-tenth of the country's wealthiest 1 percent has doubled its share of the pie from about 10 percent between 1940-1980 to over 20 percent in 2013.
The analysis, highlighted on the economics blog House of Debt, was conducted by Emmanuel Saez of UC Berkeley and Gabriel Zucman of UC Berkeley and the London School of Economics, who accompanied their findings with charts (below).
The gains have accrued overwhelmingly for the top 0.1 percent, who now enjoy their largest share of America's wealth since the 1920s. Over the same period, this small contingent has seen its gains rise significantly, while the wealth share for the bottom nine-tenths of the top 1 percent has remained about the same since the 1960.
