03-30-2014, 11:34 PM
We've all seen the charts showing, in various ways, how much the 1% have seen their wealth grow, while everyone else's has stagnated. But talking about the 1% actually misses the real story. New research from economists Emmanuel Saez and Gabriel Zucman (.pdf), via HouseOfDebt, shows that really it's only the 0.1% who've seen their share of the wealth surge.
So basically, if you're a poor schmo whose wealth is in the top 1% but not above the top 0.5%, you haven't seen gains at all. And it's mostly the same for people between 0.5% and 0.1%. It's really only above that where the outsize gains have accrued. And really, it's only the top 0.01% of the wealthiest individuals who have seen the ridiculous gains everyone talks about.
The Wealth Of The Top 1 Percent Decomposed - Business Insider