Sen. Bernie Sanders April 2, 2012
Between 2009 and 2010, 93 percent of all new income went to the top 1 percent, according to a study published by University of California economist Emmanuel Saez. The income chasm in America is growing wider. In the recovery after the early 1990s downturn, the wealthiest 1 percent captured 45 percent of the nation's income growth. After the dot-com collapse a decade ago, Saez said, 65 percent of the income growth went to the top 1 percent. The income gap is so broad today that it "shakes the foundations of the entire American project," Harold Meyerson wrote in The Washington Post. Writing in The New York Times, Steven Rattner said that "even in a country that sometimes seems inured to income inequality, these takeaways are truly stunning."
tags: economic inequality, income inequality, wealth inequality