Courtesy of Joshua M Brown, The Reformed Broker
You guys’ll love this, let’s have a political food fight about it…
From the Wall Street Journal:
A new chart from the Economic Policy Institute, using data from NYU Economist Ed Wolff, shows that more than 80% of the nation’s wealth gains between 1983 and 2009 went to the wealthiest top 5%. The top 1% gained 40% of the nation’s total wealth gain, while the next 4% gained 41.5%.
The share of wealth held by the bottom 60% dropped 7.5%.
Put another way, the top 1% gained an average of $4.5 million per household, while the next richest 4% gained $1.2 million.
Oh boy.
Source:
The Wealthiest 5% Grabbed Most of the America’s Gains (WSJ)
