The Income of Wealthy Has Grown 275% Over the Past 35 Years, Has Yours?

It's tax season.

The Feds are debating economic and tax policy.

As you experience and observe these things, here's a piece of data to keep in mind...

"Over the past 35 years, the bottom 90 percent (of the U.S. population) have seen their income rise only by a tiny fraction of total (income) growth, while income for the richest 1 percent has exploded by upwards of 275 percent."

See the chart and article HERE.

In addition to the explosion in wealth among the already wealthy, I think the other interesting thing about the stats in this accounting is how much more aligned they were during that "golden" period between the Great Depression and the middle 1970s. That is pretty much the only period in U.S. history when our economy and society was prosperous across income levels. This also coincides with the time when it was taken by the majority that things like common sense regulation, taxation and social policy were indeed territory for the government to be present. Before that and after, not true. Some further thoughts from me on that issue are HERE.