Mortgage

Charts highlight the chasm between the rich and everyone else

How’s the bounce back since the financial crisis?

While the top, minuscule percentage of taxpayers is recovering well since the recession, this is not what is happening for everyone else according to the latest data from the IRS on U.S. households. Per: Bloomberg:  

U.S. household income is getting increasingly concentrated at the top. That was especially true in 2012, when there was a race to sell valuable assets before the top capital gains tax rate jumped to 23.8% from 15%.

Check out the article to see three charts that better represent how great the divide is between the top 1% and everyone else. 

The Congressional Budget Office recently released household budget information that supports this claim.

Click to enlarge

chart

Source: CBO

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