Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion


	Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion

brightlight4

9-9-2009 6:20 PM

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9-9-2009 9:59 PM

Oortcloud

Lasted until Dec of 2007? The end of the Bush Presidency.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/30de6a5b-41fd-4b3b-a52c-e9f02c7717fc/1C778FA3-DF4A-4364-B8C8-62CBD8DCB231/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908" href="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908" style="font-size: 11px;">www.cbpp.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908"><H1>
	Top 1 Percent of Americans Reaped Two-Thirds of  Income Gains in Last Economic Expansion 
	<BR /><SPAN class="subtitle">Income Concentration in 2007 Was at Highest Level Since 1928, New Analysis Shows</SPAN>
</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908"><P>Two-thirds of the nation’s total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households, and that top 1 percent held a larger share of income in 2007 than at any time since 1928, according to an analysis of newly released IRS data by economists Thomas Piketty and Emmanuel Saez.<A name="_ftnref1" href="#_ftn1" title="">[1]</A></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908"><P>During those years, the Piketty-Saez data also show, the inflation-adjusted income of the top 1 percent of households grew more than <EM>ten times faster</EM> than the income of the bottom 90 percent of households.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908">The last economic expansion began in November 2001 and ended in December 2007,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908"> The last time such a large share of the income gain during an expansion went to the top 1 percent of households — and such a small share went to the bottom 90 percent of households —<STRONG> </STRONG>was in the 1920s (see Figure 1). <A name="_ftnref2" href="#_ftn2" title="">[2]</A></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/www.cbpp.org/img/47632C97-CBEE-4424-81E3-B6FD8A83C919" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.cbpp.org/img/A088CBE8-AC9D-4CEF-89E9-525CB0156F0B" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cbpp.org/cms/index.cfm?fa=view&id=2908"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.cbpp.org/img/021DE614-1DDE-43EA-869A-E5960D993E8E" alt="" /></div></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/1C778FA3-DF4A-4364-B8C8-62CBD8DCB231/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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