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Income Equality Gap Widens: Top 1% Income Grew in U.S. from 2009-2012
According to an updated report released by economists Emmanuel Saez and Thomas Piketty on September 3 (see PDF), top 1% incomes in the United States grew by 31.4% from 2009 to 2012, while bottom 99% incomes grew only by 0.4% during the same time period.
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In 2012, the top 10% includes all families with market income above $114,000, and the top 1% includes families with income above $394,000.
The top ten percent of earners in the United States now take home more than 50 percent of all income. This is the highest income recorded for the top ten percent since the data was first collected in 1917.