Sharing the wealth

Well at least some are doing well:

The top 1 percent of U.S. earners collected 19.3 percent of household income in 2012, their largest share since 1928. And the share held by the top 10 percent of earners last year reached a record 48.2 percent.

Last year, the incomes of the top 1 percent rose nearly 20 percent compared with a 1 percent increase for the remaining 99 percent.

But since the recession officially ended in June 2009, the top 1 percent have enjoyed the benefits of rising corporate profits and stock prices: 95 percent of the income gains reported since 2009 have gone to the top 1 percent.

That middle statement might be an anomaly for the top 1%, but the last is not. All the money is going to the richest. They don’t include it, but how much of the income gains do you think went to the bottom 50%? But it’s the unions that are greedy.

Update: Kevin Drum has details here.

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