The wealthiest sliver of Americans now commands an unprecedented share of the nation’s income.
This elite group holds a whopping 12% of total US national income, a level more than four times higher than after the 2008 financial crisis, reports The Kobeissi Letter, citing data from economists Emmanuel Saez and Gabriel Zucman.
“The richest Americans have never controlled this much wealth…
National income measures the total income earned across the economy, including wages, business profits, and investment income.”
Historical data shows this share stayed below 1% from the 1950s through the 1990s, underscoring how far current levels exceed long-term norms.
Kobeissi says the surge stems primarily from strong gains in equities and real estate holdings that have disproportionately benefited the highest earners.
He believes asset owners are the big winners in this environment as record equity market gains and rising real estate prices drive the concentration.
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