Business

US Income Inequality at Record High

[BBC]

 

One street in St Louis, Missouri, has been known to residents as the "dividing line"
One street in St Louis, Missouri, has been known to residents as the “dividing line”

The income gap between the richest 1% of Americans and the other 99% widened to a record margin in 2012, according to an analysis of tax filings.

The top 1% of US earners collected 19.3% of household income, breaking a record previously set in 1927.

Income inequality in the US has been growing for almost three decades.

Overall, the pre-tax incomes of the top 1% of households rose 19.6% compared to a 1% increase for the rest of Americans.

And the top 10% of richest households represented just under half of all income in the year, according to the analysis.

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