If There Were Only 10,000 People in the Country, How Would the Money Be Split?

If There Were Only 10,000 People in the Country, How Would the Money Be Split?
Click to enlarge

A great chart that illustrates the economic inequality in the United States. Note how the “Share of Income Reported to the IRS” (ie. taxed income) for each bracket actually falls as average income rises.

Also interesting to note: although the Recession of 2008 hit the top 1% hardest, their recovery was almost immediate, while the other 99% are slowly having to crawl back to economic stability. Here’s an excerpt from “Striking it Richer: The Evolution of Top Incomes in the United States” {Emmanuel Saez, UC Berkeley}

“From 2009 to 2012, average real income per family grew modestly by 6.0%. Most of the gains happened in the last year when average incomes grew by 4.6% from 2011 to 2012.

However, the gains were very uneven. Top 1% incomes grew by 31.4% while bottom 99% incomes grew only by 0.4% from 2009 to 2012. Hence, the top 1% captured 95% of the income gains in the first three years of the recovery.”

If you’re interested, the full report is here: http://elsa.berkeley.edu/~saez/saez-UStopincomes-2012.pdf

Advertisements

One thought on “If There Were Only 10,000 People in the Country, How Would the Money Be Split?”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s