US Income Distribution Trends 1970 to 2010
Posted by Fringe Player | Filed under Article
The Pew Research Center just published a fascinating study entitled the “Lost Decade of the Middle Class.”
Of particular interest is that they have quantified how unequal income distribution has become in the US:
In 1970, upper-tier incomes accounted for 29% of US aggregate household income, while middle-tier incomes accounted for 62%. In 2010, upper-tier incomes accounted for 46% of US aggregate household income, surpassing middle-tier incomes at 45% for the first time since 1970.
Only upper-income families have experienced notable gains in wealth from 1983 to 2010; the net worth of lower- and middle-income families is virtually unchanged.
The graph below illustrates this well:
