15,000 Super Rich Families Claim 6% of National Income

Monday, August 17, 2009

Even during the Roaring Twenties America’s wealthy didn’t control as much of the nation’s income as they do today. According to a new study by University of California, Berkeley economist Emmanuel Saez, the richest 10% of Americans received half of all earnings in 2007. Furthermore, the so-called super rich are now in possession of more wealth than ever. Those who fall into the top one one-hundredth of one percent of earners (14,988 families) now take home 6% of all income, which is higher than the 1920s peak of 5%, and six times more than the super rich controlled in the go-go Eighties.

-Noel Brinkerhoff


Leave a comment