The Great Recession officially ended five years ago, but that’s news for millions of Americans: A stunning 95 percent of income growth since the recovery started has gone to the superwealthy. If an average household currently earning $71,000 had enjoyed the same gains as the 1 percent since 2000, it would now make more than $83,000. And the widening income gap is not just about the 1 percent anymore: Take a closer look, and you’ll see that it’s really a tiny fraction—the 1 percent of the 1 percent—that hoovers up the lion’s share of the nation’s wealth. With Washington paralyzed on bread-and-butter issues and the midterms ahead, we put together a primer on the state of America’s frozen paychecks.

Sources

Trickle Up: Emmanuel Saez and Thomas Piketty (Excel)

Whose Recovery?: Boom and recovery gains, 1% gains: Emmanuel Saez and Thomas Piketty (Excel); average household income: Census Bureau

The Rich and the Megarich: World Top Incomes Database

Working More, Earning Less: Household income: Census Bureau; economic growth: St. Louis Fed; 1 percent: Emmanuel Saez and Thomas Piketty (Excel); corporate profits: St. Louis Fed

X Marks the Spot: Historic income share: World Top Incomes Database; future trend: Thomas Piketty (PDF)

Back to the Future: Rome: Walter Scheidel and Steven J. Friesen; US in 1774 and 1860: Peter H. Lindert and Jeffrey G. Williamson; US in 1929-2012: World Top Incomes Database

Race to the Bottom: Income by race: Census Bureau; wealth by race: Edward N. Wolff 

The Asset Crash: Edward N. Wolff 

Happy Returns: Tax rates: The Tax Foundation; top incomes: Emmanuel Saez and Thomas Piketty (Excel)

It’s Not Easy…: Langone, Schwarzman, Perkins, Zell, Rodgers, Asness

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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