Economic growth for those in the bottom half of the income distribution in the United States has stalled since the 1970s, but it’s going gangbusters for those on the upper rungs, according to new research.
For example: the average pre-tax income of adults in the bottom 50 percent income share in the U.S. has stagnated since 1980. The bottom 50 percent’s share of income share has collapsed from about 20 percent in 1980 to 12 percent in 2014. Between the early 1980s and 2014, the average pre-tax income of the top 1 percent of adults rose from $420,000 to about $1.3 million, and their income share increased from about 12 percent.
Read more at: http://phys.org/news/2016-12-economists-surging-income-inequality-states.html#jCp