Richest 1% of Americans Got 93% of Income Growth in 2011

| by Michael Allen

According to a report by, the rich really do get richer, while everyone else keeps struggling.

The 2011 earnings gap between the rich and poor in the U.S. was the widest in more than four decades, surpassing income inequality in Uganda and Kazakhstan.

According to, the top 1 percent of the U.S. saw their earnings increase 5.5 percent last year, per estimates released last month by the U.S. Census Bureau. In contrast, income fell 1.7 percent for 80 percent of Americans (those who made less than $101,583).

The top 1 percent of  richest Americans got 93 percent of the nation’s income growth, according to Emmanuel Saez, a University of California at Berkeley economist. reports that in this recovery it is better to own stock than a house.