Bloomberg: Top 1% Got 93% of Income Growth as Gap Between Rich and Poor Widens

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Economists are right when they say the U.S. economy has been growing, it’s just that regular workers haven’t been getting much of that growth. The reason many ordinary people don’t feel like the recession is ending is because their wages are declining, while the top 1% have seen dramatic increases in their income.

Bloomberg reports:

…the U.S. has gone through two recoveries. The 1.2 million households whose incomes put them in the top 1 percent of the U.S. saw their earnings increase 5.5 percent last year, according to estimates released last month by the U.S. Census Bureau. Earnings fell 1.7 percent for the 96 million households in the bottom 80 percent — those that made less than $101,583.