During a recent political convention, it was said that more than ninety percent of income gains in recent years have gone to the top one percent. Recent data indicate that that’s not true, at least not anymore. Still, the top one percent have done very well financially, so if you are looking for charitable causes, the top one percent in America should probably not be on the top of your list.
According to University of California, Berkeley profession Emmanuel Saez, the top one percent captured fifty two percent of the income gains between two thousand and nine and twenty fifteen. That means that the bottom ninety nine percent took home forty eight percent of the gains.
As indicated by CNNMoney, the ninety percent figure comes from Saez’s earlier research covering the period from two thousand and nine to twenty twelve when the top one percent captured ninety one percent of the gains.
Income gains have been spread more evenly since then, particularly because of significant job growth and accelerating wage gains. If one analyzes the period from two thousand and seven to twenty fifteen, the top one percent captured forty four percent of the income gains.
