From 2009 to 2012, the top 1 percent received 95 percent of income gains, a study by University of California-Berkeley economist Emmanuel Saez indicated.
That’s where you find the “superstars” who make megabucks in sports, entertainment, technology and finance, said economists Steven Kaplan and Joshua Rauh. You’d expect them to do better.
But during the presidency of George W. Bush, the top 1 percent garnered just 65 percent of income growth, Prof. Saez said.
The stock market has set all-time highs despite mostly dismal economic news — thanks to “quantitative easing” (money creation) by the Federal Reserve Board. The top 1 percent own 83 percent of U.S. stocks.
Read more: http://www.post-gazette.com/opinion/jack-kelly/2013/11/24/Party-of-the-rich-Obama-policies-have-been-helping-fat-cats/stories/201311240124#ixzz2lZEoaSD4
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