In the first year of the recovery, 93 percent of all income gains went to the top 1 percent.
In other words, the very rich had a bad 2009, but an incredible 2010. Their share of national income bounced back to 19.77 percent. So inequality is marching upward once again. And there’s reason to believe this will keep going.
We mainly talk about income inequality, but wealth inequality matters, too. For most households, their wealth is in real estate. Those assets aren’t returning to pre-crisis levels anytime soon. But for rich households, their wealth is in financial assets, and those assets are recovering much more quickly.
Here’s more from Mike Konczal.