Income Growth
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Transcript of Income Growth
Income Growth
1950 - 1975
1960 - 1985
1980 - 2005Source: Pikkety-Saez from IRS
Calculations by David Cay Johnston
Bottom 90% Top 1 Under More than$100,000 $350,000
$12,438
$ - 7
$45,609
$ 5,879 $216,675
$718,779
Income Growth Ratios
1950 - 1975
1960 - 1985
1981 - 2005
Source: Pikkety-Saez from IRS
Calculations by David Cay Johnston
Bottom 90% to Top 1%
$1 to $4
$1 to $17
$1 to $5,000
Income Growth Ratios
Source: Pikkety-Saez from IRS
Calculations by David Cay Johnston
The Top 1 percent is NOT a Cohesive Group
Threshold: $350,000 +/-
Peak: $3 billion +
Income Growth Ratios
1950 - 1975
1960 - 1985
1981 - 2005
Source: Pikkety-Saez from IRS
Calculations by David Cay Johnston
Bottom 90% to Top 1%
$1 to $4
$1 to $17
$1 to $ 5,000
Income Growth Ratios
1950 - 1975
1960 - 1985
1981 - 2005
Source: Pikkety-Saez from IRS
Calculations by David Cay Johnston
Bottom 90% to Top 1%
$1 to $4
$1 to $17
$1 to $ 5,000
Bottom 90% to Top 0.01%
$1 to $36
$1 to $459
$1 to $141,000
The Super Rich
Top Tenth of 1 per cent average income• 1960 $1.0 million• 1970 $1.2 million• 1980 $1.4 million• 1990 $2.5 million• 2000 $5.8 million• 2005 $5.6 million
The Super Super Rich
Top Hundredth of 1 per cent average income• 1960 $ 3.7 million• 1970 $ 4.2 million• 1980 $ 5.2 million• 1990 $10.1 million• 2000 $27.0 million• 2005 $26.3 million
American Income Pie
American Income Pie
The Rich Slice Gets BiggerTop Tenth of One Percent
The Typical American
Bottom 90% average income• 1960 $23,300• 1970 $31,100• 1980 $29,500• 1990 $28,800• 2000 $31,100• 2005 $29,500
Rich v. Poor
The Best-off 300,000 Americansmake almost as much as……?
A. 50 million
B. 100 million
C. 150 million
Rich v. Poor
The Best-off 300,000 almost as much as……?
C. 150 million
Rich v Poor2005
Bottom 20% Top 1%
Rich v Poor2003 to 2005
CIA World Factbook
Real RDP Growth RatesSelected Countries
RANK COUNTRY % Real Growth9 China 11.425 Russia 8.147 Cuba 7.0102 World 5.2112 Iraq 5.0114 Norway 4.9153 Netherlands 3.5155 Sweden 3.4156 Austria 3.3169 United Kingdom 2.9
183 United States 2.2
CIA World Factbook
Family Income DistributionGini Index of Selected Countries
Sweden 23
Germany 28
France 28
Norway 28
Australia 30
Netherlands 31
Spain 32
Canada 32
Italy 33
United Kingdom 34
Russia 41
United States 45
China 47
Venezuela 48
Mexico 51
Brazil 57