So what’s going on? Plenty. The very, VERY short story is this: Around 50 years ago, the super-rich started to gain the majority of their wealth less from salaries and more from the stock market … all while having to follow fewer and fewer rules on their investments and profits.
See that income inequality jump in the ’90s-’00s? Well, between 1992 and 2007, the average salary of the richest/wealthiest/most well-to-doiest 400 American people doubled, but the average capital gains (aka investments) haul increased 13x. Yes: thirteenfold increase. Lucky 13 (for the richest 400 people)! That’s 2x the salary and 13x the investment money. Sounds nice! Can I get that?
But here’s what’s crazy: As you can see from the chart above, there’s income inequality among the super-rich! The 99% of the super-rich are leagues below the 1% … of the 1%. It’s like income inequality INCEPTION. Whoa.