In response to:

Top 1% Received 121% of Income Gains During the Recovery, But It's Not What You Think

Penny49 Wrote: Feb 17, 2013 2:26 PM
I agree getting rid of the Fed would be a huge accomplishment but unfortunately they won't go away without a fight. Some say doing so almost cost Andrew Jackson his life and career when he tried and temporarily succeeded in getting rid of the Federal bank. Abe Lincoln and John Kennedy weren't so lucky. The REAL SOLUTION lies within the task of a financial eduction of the masses. The masses having access to the same knowledge that MADE the wealthy WEALTHY would remove the power of manipulation from the Federal bankers. Has no one else wondered why our school system would rather teach Algebra and Trig instead of interest rates and financial statements? An easy to read excellent book to start with is "The Richest Man In Babylon".

I have spoken many times about "income skew" during the recovery. However, I was never able to precisely quantify the "skew". It's now possible, thanks to many readers who sent a link to a Huffington Post article on Income Gains During the Recovery.

The original source of the data is a study Striking it Richer: The Evolution of Top Incomes in the United States by Emmanuel Saez.

From 2009 to 2011, average real income per family grew modestly by 1.7% but the gains were very uneven. Top 1% incomes grew by 11.2%...