Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPROOF: When it comes to income inequality, no other developed economy does it quite like the U.S.A.
The chart above, from the Organization for Economic Co-operation and Development (OECD) using the World Top Incomes Database, shows how income gains between 1975 and 2007 were divvied up in 18 OECD countries for which the researchers had data. Nowhere did the rich benefit as much as in America.
As you can see, in some countries like Denmark the vast majority of income gains went to the bottom 90 percent -- SOCIALISTS! -- while nearly half of U.S. income gains went to the richest one percent because freedom, baby.
Americas top 1 percent of earners accounted for 47 percent of all pre-tax income growth over that time period. And thats excluding capital gains, for God's sake. Throw in the rest of the top 10 percent, and youre looking at a group that got four-fifths of all income growth between the Ford and George W. Bush administrations. The rest of us were left to scramble for the last one-fifth of extra income. If you add in capital gains, which typically accrue to the highest earners anyway, the picture is probably a lot worse.
That trend had a big impact on total income share: Between 1981 and 2012, the top 1 percent more than doubled their share of total pre-tax income. They now account for about 20 percent of the nation's earnings. That's more than any other OECD country for which we have data:
MORE:
http://www.oecd.org/els/soc/OECD2014-FocusOnTopIncomes.pdf
http://www.huffingtonpost.com/2014/05/01/income-inequality-charts_n_5241586.html
http://www.oecd.org/els/soc/OECD2014-FocusOnTopIncomes.pdf
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 1397 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (14)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
PROOF: When it comes to income inequality, no other developed economy does it quite like the U.S.A. (Original Post)
kpete
May 2014
OP
Scuba
(53,475 posts)1. Our Oligarchy is #1 !!!!!!!!!!!!!!!!
pampango
(24,692 posts)3. The study calls for higher marginal tax rates ... aimed at high incomes ... and inheritance taxes.
The study calls for higher marginal tax rates and fewer tax deductions and credits aimed at high income earners. It also advocates wealth or inheritance taxes.
This is all pre-Great Recession but it is fantastic to see how those 'socialist' European countries were able to make 80% to 90% of the income gains go the the 99% for that 32 year period.