There are as many narratives about income inequality as there are papers. Over the last few days, two reports have appeared in stark contrast with one another. An 80-page note by Deutsche Bank sheds light on dramatically increasing income inequality in the U.S. and other Organization for Economic Cooperation and Development (OECD) economies.
In line with several earlier academic studies, it shows that the share of income going to the top 10 percent in the United States now exceeds 50 percent, and the top 1 percent receives about 23 percent of all income.
While all income groups have seen an increase […]