The Return of the Super-Elite
▻https://www.jacobinmag.com/2018/07/income-inequality-super-rich-economic-policy-institute
American economic inequality hit a historic peak in 1928, when the country’s richest 1 percent captured nearly a quarter of the nation’s total income. But now, in thirty American metro areas and five whole states, the 1 percent has broken that previous record — and in some cases has doubled it.
Economists Estelle Sommeiller and Mark Price released a paper last week through the Economic Policy Institute titled “The new gilded age: Income inequality in the U.S. by state, metropolitan area, and county.” Their research concludes that, on average, the income of America’s 1 percent is twenty-six times higher than the average of the bottom 99 percent.