From 2002–2007, Two-Thirds Of American Income Growth Went To Top 1 Percent

The gap between the wealthiest Americans and everyone else continues to widen, as from 2002 to 2007, two of every three dollars in income growth went to the top 1 percent of earners, according to the Atlantic. As ThinkProgress has repeatedly noted, American income inequality is at unprecedented levels, comparable to developing African nations like Uganda and Ivory Coast. Meanwhile, in the last 12 years, the 400 wealthiest Americans have doubled their income while seeing their tax rates halved.