US income inequality at record high

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The Secular Jurist

One street in St Louis, Missouri, has been known to residents as the “dividing line”

The income gap between the richest 1% of Americans and the other 99% widened to a record margin in 2012, according to an analysis of tax filings.

The top 1% of US earners collected 19.3% of household income, breaking a record previously set in 1927.

Income inequality in the US has been growing for almost three decades.

* * * * *

Incomes among the richest fell more than 36% between 2007-09, compared with a decrease of 11.6% for the rest of Americans. But in the last three years, 95% of all income gains have gone to the richest 1%.

The top 1% of American households had income above $394,000 (£250,000) last year. The top 10% had income exceeding $114,000.

http://www.bbc.co.uk/news/world-us-canada-24039202

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