No I don't see the problem, we all got way wealthier. Percentage of total doesn't matter at all because "total" is fundamentally illiquid. In 1970, only 9.7% of Americans were high income. Now the figure is 34.1%. That's incredible. https://t.co/sggYdoI2Tx
Taxpayers in the top 5 percent of income already pay for more than 43 percent of the U.S. government, and taxpayers in the top 1 percent pay for more than 27 percent; at some point, taking more resources from the wealthy yields diminishing returns. Many of the Obama reforms, including much of the stimulus bill, and the health care bill, redistribut
... See moresoar to $1 billion. However, the wealth of the median customer, the one exactly in the middle of the distribution, wouldn’t change at all.
The median home price in the U.S. is six times the median annual income3—fifty years ago it was two times—and the share of first-time buyers4 is barely half the historical average and the lowest on record. Medical debt is the leading cause5 of consumer bankruptcy; half of American adults would not be able to cover a $500 medical bill without taking
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For each dollar earned in 2005, the top 10 percent received 48.5 cents.
Emmanuel Saez of the University of California, Berkeley, found that an astonishing 95 percent of total income gains during the years 2009 to 2012 were hoovered up by the wealthiest 1 percent.