(WASHINGTON) — The so-called “1-percenters” are better off than since before the Great Depression.
An analysis by the Internal Revenue Service reveals that those in the top 1 percent of the nation’s income scale held 19.3 percent of the household incomes last year. That’s the largest gap between them and all other Americans since 1928.
Meanwhile, earners who fall into the top 10 percent managed to collect 48.2 percent of household incomes, leaving the other 90 percent to share a little more than half the income.
Although all Americans took a hit in the pocketbook during the Great Recession that ran from 2007 and 2009, the 1-percenters have bounced back nicely, thanks to both the recovery of corporate America and Wall Street.
Between 2009 and 2012, their income grew over 31 percent while incomes for the other 99 percent only went up 0.4 percent.
Households earning $394,000 annually are in the nation’s top 1 percent.
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Madison Park, Keith Allen and Andreas Preuss, CNN