But let’s look at that. Here’s the Share of Total Income for the top percentiles, starting at the top 10%., which we see now take home about 50% of the country’s personal income. (To recover the brackets in the above graphs, take the difference between two adjacent curves. Thus, the top 10 – 5 % bracket is the difference between the top line and the magenta line, about 12% in 2012, the 5 – 1% bracket the difference between the next two lines, in 2012 about 15%, etc.)
The question for the second 9% is are they doing better than they would it the top 1% had not absconded with so many of the gains. The answer may be no, and even if it is yes, they have to realize that much of those gains were at the expense of the 90%.