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For example, since 1980, aggregate national income grew an avg. of 1.3% annually, but this growth went disproportionately to the wealthiest—
The top 10% saw their incomes rise by 2%,
the top 1% saw theirs rise by 2.9%,
& the bottom 90% saw their incomes rise by just 1%. 7/n
The top 10% saw their incomes rise by 2%,
the top 1% saw theirs rise by 2.9%,
& the bottom 90% saw their incomes rise by just 1%. 7/n
And across recent recessions and expansions, data show the top 10% of earners have taken around 50% of all economic growth. 8/n 
This lopsided pattern of growth has serious downstream consequences—
Raj Chetty @HarvardEcon et al have shown, mobility has declined precipitously in the US, and 2/3 of this decline can be attributed to unequal patterns of growth. equitablegrowth.org/the-fading-ame… 9/n
Raj Chetty @HarvardEcon et al have shown, mobility has declined precipitously in the US, and 2/3 of this decline can be attributed to unequal patterns of growth. equitablegrowth.org/the-fading-ame… 9/n
