Friday, December 20, 2013

US Income Inequality Decreased In 2011: No Increase In Income Inequality Since 2001 And By Some Researchers As Far Back As 1980s

From Tax Foundation, "IRS: Income Inequality Went Down in 2011" by William McBride:
The chart below indicates that the share of income accruing to the top 1 percent of earners, and the top 0.1 percent of earners, went down slightly in 2011. This despite an economic recovery that has been most evident in a booming stock market. Further, these top shares of income remain below the average for the last 10 years, and much lower than they were from 2005 to 2007.
The hard data indicates there has been no appreciable increase in income inequality since 2001. Other reputable studies, some of which are reviewed here, indicate income inequality has not increased since the 1980s.
Income Shares Of Rich: Graph
Source: Tax Foundation

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