Income Distribution: Poor, Rich, And Richest [GRAPHIC]

One of the focal points of the protests raging in Zuccotti Park and around the world is the sizable gap between the rich and everyone else. Yet as the below graphic shows, there are many different levels of wealth among even the richest of the rich.

In 2008, the top 0.01 percent of earners controlled 5 percent of the nation's wealth, as depicted by Catherine Mulbrandon at Visualizing Economics. At the same time the bottom 90 percent of earners' share of income was slightly over half. (h/t The Big Picture)

But the gap between the super-rich and everyone else wasn't always so wide. Indeed, the share of income belonging to the top 1 percent of earners in the U.S. more than doubled between 1982 and 2008, according to the Wall Street Journal.

Though income inequality may be particularly striking in the U.S., it's by no means contained to a single country. Worldwide, those making more than $1 million control nearly 40 percent of global wealth, the WSJ reports. And that number may be only poised to grow; by the end of the decade, the global wealth of millionaire households in 25 economies will more than double, according to a report from the Deloitte Center for Financial Services.

At the same time that the number of wealthy global citizens grows, though, the financial situations of many is getting more tenuous. The median income dropped in 2010 for the second year in a row to $26,364 and a recent Gallup poll found that 20 percent of U.S. households rate their financial situation as "poor" -- a larger share than those that had that same view during the recession.

See a visual representation of income distribution in 2008 from Visualizing Economics below:

Visualizing Economics is a website by Catherine Mulbrandon dedicated to publishing infographics about economic data. Visualizing Economics has been featured at Slate.com, NPR.org, WashingtonPost.com, The Big Picture, Seeking Alpha and on MSNBC.

Find more graphics explaining the U.S. economy at VisualizingEconomics.com

 

Comments

[AZDave2]

09:00 AM on 11/17/2011

If you take the long view you will see that this spread is unhealthy for a country and also unhealthy for the world. We saw the Arab Spring which was about the need for balance in those societies. In our own country we need to return to balance and fairness.

[hardday]

09:52 PM on 11/01/2011

Nothing wrong with that graph. It shows the American dream. Everyone cant be in the top 1%, logically most will be in the bottom 50% Wheres the news here? This is just fine. The unequal part is making one man pay more than another man. ALL should pay the same amount regardless of income for true equality. If you get rich thats great, if you just get buy then be happy you live here where the poor are actually rich. You poor people have plenty of food, most of you are fat. You poor people have smart phones, and big screens. I do not see any problem here accept the poor need to pay their fair share of taxes. And making just over a hundred thousand makes you rich to dumb people.

[mjdloc157]

09:06 AM on 10/27/2011

Income or "wealth distribution"there is no other way to look at that statement, COMMUNISM

[Chazzam]

01:53 PM on 11/01/2011

Incorrect. "Wealth distribution" as a term, is politically neutral and is merely descriptive.

[PolecatMtn]

06:37 AM on 10/27/2011

A few years ago, I told a few friends that the income gap in the US would lead to serious problems. This is a very serious problem that could lead to more and more violence. I am a conservative, but I am not a fool. I do believe capitalism with all its flaws, is the best vehicle for improving people's lives. Now, IMO, politicians, bankers, etc. created this disaster. People have been hurt and I am angry. We as Americans need to work together to get this ticking time bomb solved before all of us lose everything in this nation. No, greed is not good.

[Son of Liberty 1765]

01:47 PM on 10/26/2011

This is actually not income distribution, it is income EARNED. THose who make more earn it and those those who make less earn it too.

[Ice4you]

02:30 PM on 10/26/2011

Not true the rich have been given tax breaks and loop holes for years. Most wealth is not earned it is inherited.

[map1246]

02:58 PM on 10/26/2011

The top 1% pay 40% of all federal income taxes. How is that a tax break? The bottom 47% pay no income taxes. How is that NOT a tax break?

[Son of Liberty 1765]

05:55 PM on 10/26/2011

Only 3% of wealth is inherited. Typical leftist liar.

[martingibsonusa]

12:11 PM on 10/26/2011

Congressional Reform Act of 2011

1. No Tenure / No Pension. A Congressman collects a salary while in office and receives no pay when once they are out of office.

2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American
people. It may not be used for any other purpose.

3. Congress can purchase their own retirement plan, just as all Americans do.

4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

5. Congress loses their current health care system and participates in the same health care system as the American people.

6. Congress must equally abide by all laws they impose on the American people.

7. All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves.

[map1246]

08:45 AM on 10/26/2011

Increased global competition concentrates rewards. You don't get a trophy for just showing up.

[greyhound2]

09:38 AM on 10/26/2011

Globalization is just union busting in a new dress.

[map1246]

11:48 AM on 10/26/2011

Globalization has created millions of jobs, overseas. Don't people in India deserve jobs? How about in Brazil or China? Don't workers in those countries deserve jobs?

[mjdloc157]

09:10 AM on 10/27/2011

what busted the unions was CORRUPTION

[Georgia Yankee]

08:45 AM on 10/26/2011

Income distribution due to government subsidies:

Rich: + $1 trillion
Middle class: $ - $1 trillion
Poor + $0

[Matt12]

08:43 AM on 10/26/2011

No wonder the fraudsters are turning Manhattan into the most expensive shtetl any where

[watoos013]

08:33 AM on 10/26/2011

When Romney worked at Bain he set up off-shore accounts for his clients to avoid paying taxes.

[kenport]

08:30 AM on 10/26/2011

Both parties will not tackle meaningful tax reform. The code needs a major overhaul .. close the loopholes and havens, reduce both personal and corp rates, thus expanding the tax base. It will make the US. economy more competitive and produce jobs.

[zyxwvutsrqpo]

08:27 AM on 10/26/2011

Don't worry guys. It will start trickling as soon as we get Obama out of office and relieve "uncertainty."

[watoos013]

08:30 AM on 10/26/2011

F.Luntz got a lot of miles out of uncertainty. What an old talking point. Smart people know it's demand. Working folks don't have money to spend.

[PaPif]

08:52 AM on 10/27/2011

Oh sure. Because it definitely "trickled down" under Reagan and HW Bush or W. Actually, they may be the only situation where something "trickles up".

[hardday]

09:55 PM on 11/01/2011

Taxes trickle down goofy.

[anrejon]

07:28 AM on 10/26/2011

This is the result of Trickle Down Economics, 'Free' Trade, and it has screwed America.

[avg american]

07:26 AM on 10/27/2011

and supply-side economics...

[JTyroler]

06:29 AM on 10/26/2011

When a nation has such a huge gap in income and wealth inequality, things usually end up being very bad for those at the very top. Late 18th century France, early 19th century Russia, many Asian, African, Latin American nations, etc.

[sherlockhemlock]

07:57 AM on 10/26/2011

Things usually end up being fatal.

[map1246]

08:52 AM on 10/26/2011

The French Revolution was a failure; by 1804 the French were ruled by an emperor and then the Monarchy returned shortly after that. The Russian Revolultion brought about the murderer of 10,000,000 kulaks (peasant farmers), the murder of millions more, and tyranny. Revolutions often do not work out well for the average citizen. Many of the upper class now have off shore bank accounts and two passports. The middle class have no where to go and no wealth to take with them.

[greyhound2]

09:42 AM on 10/26/2011

Another example. When the Iranian revolution disposed of the crooked Shah, they ended up with an Islamic Republic which is a theoracy, the church and state as one with the population screwed.

[silverstreet]

03:49 PM on 10/26/2011

In the long run, it was not a failure.

[K August]

04:18 AM on 10/26/2011

"But the gap between the super-rich and everyone else wasn't always so wide. Indeed, the share of income belonging to the top 1 percent of earners in the U.S. more than doubled between 1982 and 2008, according to the Wall Street Journal. "

The major reason it doubled was because of tax cuts to that very group.
Reagan slashed the top rates in HALF..... raised the debt ceiling 18 times to make up for the shortfall in government revenues.
Bush 2 gave them more tax breaks, he even cut the capital gains tax by more than half ..dropped it to 15%.

All those GOP tax cuts added 11 Trillion to our National Debt. The GOP basically used the good credit of the USA to borrow money to cover the shortfall in revenues for their tax cuts so the Top percentage could keep more of their money and We, The People got the bill......a huge National Debt.
Now they demand Austerity from the people (slashing the budgets of safety nets as more people slip into poverty status) and telling us that SS and Medicare are just too expensive and have to be dismantled.

But the real kicker is that they are STILL trying to convince us that the Top needs yet another tax cut!
The top % needs to start repaying our country...since that 11 Trillion went directly into their pockets.

[kenport]

08:37 AM on 10/26/2011

And Obama has already added $ 4 trillion to the national deficit .. so where is the " Change " ??

[Chazzam]

01:59 PM on 11/01/2011

Being stonewalled by status quo-loving conservatives

[Judie Vc]

08:50 AM on 10/26/2011

>>>

Very well said, k_August. GOTP cons like to pretend the rich just got this wealth disparity in a vacuum. No way. Recent 3 GOP POTUS raised the debt ceiling over 20 times yet Obama tries to raise it once and it's the end of the world. Hypocrites.

[map1246]

08:55 AM on 10/26/2011

Obama voted againt raising the debt ceiling while he was in the Senate; hypocrite.