A recent study reveals that the top 10% of earners in the U.S. took home more than half the country’s total income in 2012. That's the highest level recorded since the government began collecting the data a century ago, according to a New York Times analysis.
The study by economists Emmanuel Saez and Thomas Piketty also found that the top 1% of earners enjoyed 95% of the income gains since the recession ended. Meanwhile, incomes for the rest of us stagnated from 2009 to 2011 and grew only about 1% in 2012.
Gee to think when I told VT the other day the average joe is losing ground or nearly stagnant he said 'nah...it's all fine and everyone is doing better'. I guess he was wrong. Most people I know are losing ground...and yes the upper .1 of the 1% are doing fabulous