Sunday, August 16, 2009

Striking it Richer

The top .01% (top 14,988 US families, making at least $11.5m in 2007) share increased from 5.46% in 2006 to 6.04% in 2007

So the top 1/10,000 families had 6.0% of U.S. income.
Note that this is even higher than the time preceding the Great Depression. Such severe income inequality leads to severe economic downturns by more than one mechanisms.

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