9 Economic Facts That Will Make Your Head Spin

LYNN STUART PARRAMORE - AlterNet (U.S.)

How much will you need for medical expenses in retirement? What does it cost to keep 2.5 million Americans behind bars? Here are a few facts and figures that might surprise you.

1. Recovery for the rich, recession for the rest.

Economic recovery is in rather limited supply, it seems. Research by economist Emmanuel Saez shows that the top 1 percent has enjoyed income growth of over 11 percent [3] since the official end of the recession. The other 99 percent hasnâ€™t fared so well, seeing a 0.4 percent decline in income.

The top 10 percent of earners hauled in 46.5 percent of all income in 2011, the highest proportion since 1917 â€“ and that doesnâ€™t even include money earned from investments. The wealthy have benefitted from favorable tax status and the rise in stock prices, while the rest have been hit with a continuing unemployment crisis ...

Comments: 3

Leah Christensen Feb 21, 2013, 12:51pm UTC

Wow! Didn't know my head could spin that much without the aid of alcohol. what an eye-opening head-spinner.

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Yoshi k. Feb 21, 2013, 3:33pm UTC

Interesting statistics. I thank my lucky stars I've always carried an affinity for the sunshine of the Caribbean.

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Gilbert S. Feb 21, 2013, 6:43pm UTC

Indeed. And it seems that some stats over here are conservative. As I "heard" on point 9, the 1% holds 1/3 of total assets instead of just or only 25%. I don't remember maybe it was the top 2%.

Any way this is far not new. I remember comparing (maybe even 4 years ago) to Spain before the Civil war.

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9 Economic Facts That Will Make Your Head Spin

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