Where Has The Growth In Income Gone?

Sometimes a picture helps us to understand a lot of data. This picture tells the story, via the CBO and Paul Krugman, of where the income has gone. Essentially the bottom 80% gave it to the top 1%. Not much of the growth went to college educated upper middle class that David Brooks views as the beneficiaries of income growth. The level of inequality within the top 1% is a major part of the story as well. Around two thirds of the growth went to the top 0.01%. The distance between the bottom of the top 1% and those at the top dwarfs the difference between the bottom of the top 1% and the bottom 80%