The Richest 1% Captured 93% Of Income Gains In 2010Quicklink submitted By Amanda Lang Permalink
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The top 1% captured 93% of the income gains in the first year of recovery. The bottom 90% of Americans lost $127, the bottom 99% of Americans gained $80, and the top 1% gained $105,637.
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|Though the economy is slowly recovering from the Great Recession, large swaths of the American public are still bogged down by joblessness, underwater mortgages, and falling incomes. In fact, "between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909."
But as the Roosevelt Institute's Mike Konczal pointed out, 2010, the first full year of the recovery, was very good for America's richest 1 percent. In fact, that year the richest 1 percent captured 93 percent of the nation's income gains...