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Top 1 Percent Took Record Share Of 2012 U.S. Income

Tuesday, September 10, 2013 - 5:02 PM
The pay gap between the richest 1 percent and the rest of America widened to a record last year.

The top 1 percent of earners collected 19.3 percent of household income in 2012, their largest share in Internal Revenue Service figures going back a century.

http://www.northjersey.com/news/223136051_Top_1_percent_took_record_share_of_2012_US_income.html

That's one accomplishment that Chairman Bernanke can be proud of with his zero interest rate policy (ZIRP) and seemingly endless QE. Meanwhile, savers and pensioners on fixed incomes were punished severely. Oh well, just collateral damage for the greatest transfer of wealth in history. Nothing to see, just move along.
9
ShorebreakShorebreak2,603 posts since
Apr 6, 2010
Rep Points: 14,091
1. Tuesday, September 10, 2013 - 7:18 PM
http://business.time.com/2013/09/10/study-the-1-took-an-even-bigger-slice-of-the-pie-in-2012/

I could not make yours work. Went to time.com and found it. Maybe this one will work. 
4
Ally6770Ally6770909 posts since
Jan 16, 2010
Rep Points: 2,643
2. Tuesday, September 10, 2013 - 8:46 PM
Thanks Ally. I have updated the post. Kudos.
4
ShorebreakShorebreak2,603 posts since
Apr 6, 2010
Rep Points: 14,091
3. Wednesday, September 11, 2013 - 6:50 AM
This is a rational result since it is natural that the richest will bring in the largest income due to their own earning potential as well as asset worth. 
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
4. Wednesday, September 11, 2013 - 7:55 AM
The vast majority of the wealth held by the top 1 percent doesn’t come from income, but from stocks, securities, business equity and other investments.
4
ShorebreakShorebreak2,603 posts since
Apr 6, 2010
Rep Points: 14,091
5. Wednesday, September 11, 2013 - 9:41 AM
I had read in other articles that some of the wealthiest people have less liquid cash than many of us on DA. They put their assets in stocks, real estate etc. which is not as liquid as just CDs.  What good does it do to own a million dollar home if you need the cash and have no buyers for it at the time?  The same goes for stocks.  If you sell at the right time you may do well but you don't always need fast cash at the "right" time.  So who really are the "wealthy" people?
3
paoli2paoli21,367 posts since
Aug 10, 2011
Rep Points: 5,992
6. Wednesday, September 11, 2013 - 1:56 PM
The vast majority of the wealth held by the top 1 percent doesn’t come from income, but from stocks, securities, business equity and other investments.

Agree, that was what I meant by "asset worth."  Of course, a $3M annual paycheck wouldn't hurt, either.

2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
7. Wednesday, September 11, 2013 - 7:59 PM
Touche Brett.
4
ShorebreakShorebreak2,603 posts since
Apr 6, 2010
Rep Points: 14,091
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