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US Income Distribution Worst Ever

the eric conspiracy (20178) writes | about a year ago

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the eric conspiracy (20178) writes "In 2012 the highest earning 1% of the US population garnered 19.3% of the US total. This breaks the previous record set in 1928 at 18.7%. In the last three years, 95% of all income gains have gone to the richest 1%. Real income growth between for the top 1% was 86% between 1993 and 2000. For the remainder of the population earnings rose 6.6%. The study also noted that the top 10% of US families had 50% of the total US income.

Income distribution usually worsens as a country first develops due to a shift from agriculture to urban living, then improves as the economy matures. This is known as the Kuznets curve. The current regression of income equity in the US suggests serious social policy failings."

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