NYC’s Top 0.1 Percent Makes Four Times The Income Of The Bottom Half Of Earners


New York’s richest have gotten richer since 2006 as its poor have gotten poorer, according to a study published Wednesday by the city’s Independent Budget Office.

Drawing from annual samples of 770,700 income tax returns, the agency analyzed New York City residents’ earnings for each year from 2006 to 2014, extrapolating to the total tax-paying population of 4 million, and adjusting for inflation so that each year’s figures are directly comparable.

"We all know that the city is very unequal," said Debipriya Chatterjee, the IBO economist who analyzed the figures. "What I did not anticipate seeing in the data is that […]