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(Data for additional percentiles spanning 1917–2013 are available at org/unequalstates2016data.) This third edition includes two new elements: We examine top incomes by metropolitan area and county in 2013.Our analysis provides a number of major findings that confirm the widespread extent and growth of income inequality that is heightening economic anxiety among the American electorate: In 2013, income inequality was much higher in many states, metropolitan areas, and counties than for the United States overall.Product Advantages Cambria is primarily mined in North America, meaning it has lower transportation requirements than other quartz surfacing products produced outside the US.During processing, 100 percent of the water used in Cambria’s plant and fabrication facilities is recycled through a series of advanced settling and filtering techniques. Scrap material is collected and used as road base material on local construction projects.What this report finds: Income inequality has risen in every state since the 1970s and in many states is up in the post–Great Recession era.In 24 states, the top 1 percent captured at least half of all income growth between 20, and in 15 of those states, the top 1 percent captured all income growth.
While these forms of nontaxable compensation have been growing over time, their exclusion does not materially close the growing gap we observe between the vast majority of people and the highest earners in our economy.4 Piketty and Saez’s groundbreaking 2003 study, now more than a decade old, increased attention to the body of work compiled since the 1980s documenting rising inequality in the United States.
They find the share of income captured by the top 1 percent climbed from 9.96 percent in 1979 to 23.50 percent in 2007.6 The share of income earned by the top 1 percent in 2007 on the eve of the Great Recession was just shy of 23.94 percent, the peak in the top 1 percent income share reached in 1928 (the year before the start of the Great Depression).
Although the Great Recession reduced the income share of the top 1 percent, to 18.12 percent in 2009, their incomes surged ahead of the growth of incomes among the bottom 99 percent starting in 2010, with the income share of the top 1 percent reaching a peak of 22.83 percent in 2012.
Their work helped inspire the Occupy Wall Street movement of 2011 and continues to resonate among the public.
Growing public concern over rising inequality has also reinvigorated academic debates about whether inequality matters at all (Mankiw 2013) and about the role of finance and top executives in driving the growth of inequality (Bivens and Mishel 2013), and has spurred interest in how rising inequality limits the number of Americans who actually experience a “rags to riches” story over their lifetime (Corak 2013).
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While New York and Connecticut are the most unequal states (as measured by the ratio of top 1 percent to bottom 99 percent income in 2013), nine states, 54 metropolitan areas, and 165 counties have gaps wider than the national gap.