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    • normanbae1 year ago

      “A full-time worker whose taxable income is at the median now pulls in about $50,000 a year. Yet had the fruits of the nation’s economic output been shared over the past 45 years as broadly as they were from the end of World War II until the early 1970s, that worker would instead be making $92,000 to $102,000. (The exact figures vary slightly depending on how inflation is calculated.)

      The RAND data also makes clear who the winners from inequality are: those in the top 1%.

      Of course, they’d be in a less advantageous position if the economic pie had been divvied up since the mid-1970s like it was previously. If that were the case, RAND says, yearly income for the average one-percenter would fall from about $1.2 million to $549,000."