What the Recession Has Done to the Rich
Wealthiest Americans are slightly more diverse now than before, and more worried too
December marks the fourth anniversary of the start of the Great Recession.
The nation has become a different place during that period: Poverty has worsened, young Americans are being hit hard by unemployment, and government debt has skyrocketed.
For the richest Americans, life has changed as well. For one thing, they currently find themselves at the center of a
political fight, with Republicans hurling accusations of "class warfare" at President Obama for his proposed tax hike
on Americans making more than
The top 1 percent of Americans control 40 percent of wealth, according to economist
Here are a few statistical snapshots of how the population of the wealthiest and highest-income people in the nation has changed since the recession:
Women Are on the Move
From 2007 to 2010, high-earning women have grown as a population much more rapidly than their male counterparts. Over that time period, according to the
Decline in Wealthy Whites
From 2007 to 2010, the population of high-earning Americans has grown more racially and ethnically diverse. The total number of households with annual incomes over
But in light of
They Have Regained Lost Income
In 2006, 50.5 percent of annual income went to the top 20 percent of households, the highest since the Census began keeping records in 1967. That figure dropped to 49.7 percent in 2007 but has since then rebounded to 50.3 percent in 2009 and 50.2 percent in 2010. Meanwhile, the income share going to the bottom three quintiles decreased.
Lower Incomes, but Higher by Comparison
The U.S. median income has dropped significantly as a result of the economic crisis, from
Becoming More Anxious
According to Gallup, upper-income Americans are now as shaken by the rough economy as the rest of the nation. The polling firm's latest numbers show that, in August, 54 percent of Americans with annual incomes of
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Available at Amazon.com:
What the Recession Has Done to the Rich | Politics
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