"Recent survey shows inequality in the US is at its new peak. The richest 1
percent of the population received almost a fifth of the national households'
income in 2012, thus breaking the previous record set in 1928."
--------------
"The top 10 percent of earners took more than half of the country's total
income in 2012, the highest level recorded since the government began
collecting the relevant data a century ago, according to an updated study by
the prominent economists Emmanuel Saez and Thomas Piketty.
The figures underscore that even after the recession the country remains in
a new Gilded Age, with income as concentrated as it was in the years that
preceded the Depression of the 1930s, if not more so.
"These results suggest the Great Recession has only depressed top income
shares temporarily and will not undo any of the dramatic increase in top
income shares that has taken place since the 1970s," Mr. Saez, an economist
at the University of California, Berkeley, wrote in his analysis of the
data.
The income share of the top 1 percent of earners in 2012 returned to the
same level as before both the Great Recession and the Great Depression: just
above 20 percent, jumping to about 22.5 percent in 2012 from 19.7 percent in
2011.
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