I didn’t have a chance to mention it last week, but a new report was released showing an ever widening gap between the super, super-rich and the rest of us:
2005 shows a very large increase in income concentration: the top 1% gains 14% in real terms from 2004 while the bottom 99% gains less than 1% (when including capital gains). The [previous] record peak of 2000 is surpassed even though 2005 is less of a high capital gains, high stock option year than 2000. By 2005, it looks like top incomes are showing strongly along all components: wages, business income, dividends, and capital gains.
Did you see a 14 percent gain during 2005?