Noumenon (noumignon) wrote,

Income Composition of the top Fractiles - Piketty and Saez

This is a chart from the Piketty and Saez paper Income Inequality in the United States. What you see is that the rich in America used to get that way by owning things, but now they get that way by doing things -- working and founding businesses. The original is in a stupid PDF file so I could never link to it when it came up.

Read the chart like this. It is showing how the top 10% earned their income -- first in 1929, and then in 1998. The leftmost column is labeled "P90-95". That's the bottom half of the top 10% -- the 90th to 95th percentiles of income. The rightmost column is labeled "P99.99-100". That's the top .01% -- the top 1% of the top 1%. This format makes it easy to see that, for example, wage income is a much larger part of the income for the 90th-percentilers than it is for the top 0.01%.

Income Composition for Top Fractiles - Piketty and Saez

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