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The Rich Get Richer Through the Recovery - NYTimes.com

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Headlined to H4 9/17/13
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At economix.blogs.nytimes.com


Income rebounds for the top 10% while economy doesn't
(image by NY Times)

The top 10 percent of earners took more than half of the country's total income in 2012, the highest level recorded since the government began collecting the relevant data a century ago, according to an updated study by the prominent economists Emmanuel Saez and Thomas Piketty. The top 1 percent took more than one-fifth of the income earned by Americans, one of the highest levels on record since 1913, when the government instituted an income tax. The figures underscore that even after the recession the country remains in a new Gilded Age, with income as concentrated as it was in the years that preceded the Depression of the 1930s, if not more so.

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At economix.blogs.nytimes.com


 

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Money is a zero-sum game. If the rich get richer, ... by Simon Leigh on Wednesday, Sep 18, 2013 at 10:28:09 AM