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Income Demographic Changes

This story in the New York Times illustrates the striking change underway regarding the income gap in the United States. 

The new data also shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans...

 Prof. Emmanuel Saez, the University of California, Berkeley, economist who analyzed the Internal Revenue Service data with Prof. Thomas Piketty of the Paris School of Economics, said such growing disparities were significant in terms of social and political stability.

“If the economy is growing but only a few are enjoying the benefits, it goes to our sense of fairness,” Professor Saez said. “It can have important political consequences.”

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