Bloomberg’s Scarlet Fu recently presented her ‘Single Best Chart’ on Bloomberg TV Wednesday. It was on income distribution in the United States from A. Gary Schilling & Co’s monthly Insight report:
Photo: A Gary Schilling
The bottom 80% (the 1st through 4th quintiles) have seen their share of aggregate income decline, with all losses translating as gains for the top 20%. The richest quintile now receives over 50% of the nation’s income.Fu notes that income inequality is “a big issue” and “one reason why the election turned out the way it did.” She also quotes Goldman Sachs CEO Lloyd Blankfein as stating that in the long run, there has to be more revenue – and the burden of that revenue will disproportionately be taken up by wealthier people.
Watch Fu’s discussion of the chart here:
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