Saez and Picketty have published their latest chart. Income disparity -- the enormous gains of the top .01% -- are due (they say) to capital gains. You could mispell that word and it would still be true as capitol gains because the Republican party, their gears greased with help from some Clintonites (in my view), are largely responsible for vast distances between American and American.
Until the 1970s, the bottom 90 percent had actually seen its income grow more than any other income group. The income gap was shrinking. But the ultra-rich quickly reversed that trend. In 2007, the top 0.01 percent had an average income almost seven times that of 1917; the average income of the bottom 90 percent had barely tripled. The country has grown more unequal, not less, since then. And, interestingly, the 90-99th percentiles all saw their average income grow faster than all but the tippy-top of the top 1 percent. The divide between the rich and the rest isn’t the only gap growing, in other words. The gap between the ultra-rich and the merely rich is growing, too. ...WonkBlog, WaPo